Politics

391 readers

332 users here now

For civil discussion of US politics. Be excellent to each other.

Rule 1: Posts have the following requirements:
▪️ Post articles about the US only

▪️ Title must match the article headline

▪️ Recent (Past 30 Days)

▪️ No Screenshots/links to other social media sites or link shorteners

Rule 2: Do not copy the entire article into your post. One or two small paragraphs are okay.

Rule 3: Articles based on opinion (unless clearly marked and from a serious publication-No Fox News or equal), misinformation or propaganda will be removed.

Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, ableist, will be removed.

Rule 5: Keep it civil. It’s OK to say the subject of an article is behaving like a jerk. It’s not acceptable to say another user is a jerk. Cussing is fine.

Rule 6: Memes, spam, other low effort posting, reposts, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.

USAfacts.org

The Alt-Right Playbook

Media owners, CEOs and/or board members

founded 2 years ago

MODERATORS

[email protected]

Hospital chain reveals it owes $1B — and can't afford to pay staff (www.rawstory.com)

submitted 1 day ago by [email protected] to c/[email protected]

13 comments fedilink hide all child comments

Prospect Medical Holdings’ dire financial straits were well-documented , even before the owner of Roger Williams Medical Center and Our Lady of Fatima Hospital declared bankruptcy on Jan. 11.

But its cash flow woes are even worse than previously aired in public. The national hospital chain operator owes more than $1 billion to more than 100,000 creditors, but has just $3.4 million cash on hand, Paul Rundell, Prospect’s chief restructuring officer, wrote in testimony ahead of a federal bankruptcy court hearing in Dallas on Tuesday.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 day ago (1 children)

I used to be a part of the construction of hospitals, they have money. Finance bros wouldn't be a part of it if it wasn't profitable for them somehow. I would love to see real numbers.

[–] [email protected] -1 points 1 day ago (1 children)

used to be a part of the construction of hospitals, they have money.

Construction and the actual operation of hospitals have next to nothing to do with each other?

Finance bros wouldn't be a part of it if it wasn't profitable for them somehow.

It depends on what kind of hospitals you are talking about. There's plenty of investment capital for orthopedic or heart hospitals/clinics. But no one wants to invest in hospitals with emergency departments. They only do it when they are forced to, just like in the article you just posted.

[–] [email protected] 0 points 1 day ago* (last edited 1 day ago) (1 children)

General hospitals and we had huge fucking budgets. We had to tone it down to make it look less "rich."

[–] [email protected] -1 points 1 day ago

Hospitals are famously expensive to build, I would expect them to have a pretty huge budget compared to a normal facility the same size.

Plus, that's counter intuitive to your argument. If it was run by finance bros wouldn't you expect them to spend as little as possible on facilities?

Hospital networks aren't the cash grab they used to be, a lot has changed in the last 10-15 years, really since the affordable care act passed. Which if you read the article is when this hospital group first started having financial problems.

The way insurance companies responded to the bill was to do more business with private clinics and hospitals where they could set up in network reimbursement programs.