Posted on 08/25/2014 11:07:48 AM PDT by DCBryan1
WEST MEMPHIS, Ark. — After financial losses, fire and special tax passed to support it, Crittenden Regional Hospital is closing.
The hospital is no longer admitting people and will close September 7.
We are told clinics located within the hospital are looking for alternatives.
In a statement, CEO Gene Cashman said, ‘With counsel from national health care consulting firms and the passage of a county-wide sales tax, we had identified a long-term strategic plan that had set our organization on a path to improvement. This summer’s fire and the subsequent shut-down derailed that plan’s success.”
(Excerpt) Read more at wreg.com ...
If you own any of their municipal bonds, please check the CUSIPS at EMMA MSRB.
I’m curious. Is there a large illegal immigrant populace in the area? You have no idea how fast they can tank a hospital.
Source: Not a nice place.
About the same size and demographics as Ferguson, MO of current ill repute. 60%+ black, <30% white.
Small independent hospitals cannot survive in this new model. They must join associations or be acquired to have any hope of success.
Probably intentional to drive care into a small number of providers which are easier to control.
Its not so much a racial issue as it is an economic issue. If there is a high level of government subsidy AND the hospital is not being managed well, they go under pretty quickly.
Medicare cuts, insurance changes, and other subsidies have changed so much in the past two years it is tough to keep up. AND, if your billing team is not sharp—and by that I mean they do not make any mistakes and chase after all of the dollars—they will die a fast death.
My wife’s hospital is the local “poor peoples” hospital and then have been a national leader in shifting to a quality based score card for all aspects of the medical process. They increased quality and reduced expenses and collected more claims in the past year than ever before. Their reimbursements have been paid faster due to better coding. Their re admittance rate has fallen to lower than any of the “for profit” hospitals in the area.
AND this is under Romney care.
If a hospital does not have its business act together they are going to have a hard time over the next couple of years.
In my small town they shutting down our hospital also. Emergency room only will be left. We have a large illegal population.
Okay. When you get a significant enough portion of the populace not able to pay their hospital bill, the hospital will soon wind up on the ropes. I suspect the demographics being what they are, you’re getting the same effect as if it were illegals.
Poor black over-represented, bills go unpaid. Working people in the area pay the price, as service evaporate and you have to go farther in emergency situations for medical care.
This could easily cause people to die in transit, who would have lived.
Which means the over used Memphis Reg Med center will take another hit. AR already is slow or no Pay @ Memphis hoapita;, which is the only Public hospital. Over loaded with illegals and welfare queens.
LOL, well, if the shoe fits...
And here it does.
Capitalist principles once abandoned, htere will be all sorts of ramifications.
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