Metro General CEO in running for Memphis job
Posted on November 19, 2009 at 4:39 pm
Reginald Coopwood, CEO of the Metropolitan Nashville Hospital Authority, is one of two finalists for the job of leading the Regional Medical Center at Memphis, better known as the MED. Here’s the basic job description:
Board members are looking for someone to navigate the hospital through severe financial troubles, galvanize public commitment to the institution, shepherd a campaign for a new facility and establish stable leadership.
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CCA, LifePoint execs sell part of holdings
Posted on at 1:37 pmRichard Seiter, chief corrections officer at Corrections Corp. of America, on Tuesday sold 4,500 shares of the company for about $113,000. Shares of CCA (Ticker: CXW) have risen about 50 percent in the past six months.
Over at LifePoint, Group President Joné Law Koford pocketed about $155,000 from the sale of almost 5,200 of her shares. Shares of the Brentwood-based hospital chain (Ticker: LPNT) are up about 14 percent since May.
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Rash joins M&A fray in Ohio
Posted on November 18, 2009 at 7:57 amMarty Rash’s RegionalCare Hospital Partners has submitted a bid to buy Clinton Memorial Hospital in Wilmington, Ohio, which also is talking to a joint venture that includes LifePoint.
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Iasis’ quality chief jumps to Humana
Posted on November 17, 2009 at 8:09 amJohn Cruickshank has left Iasis Healthcare after a year and a half as chief quality officer at the Franklin-based hospital company. The 52-year-old is now chief medical officer for Humana in Arizona. He joined Iasis around the time the company inked a hospitalist contract that led to eight doctors leaving the group he was running at the time.
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CHS faces strike at Pa. hospital
Posted on November 16, 2009 at 11:44 amService Employees International Union representatives have issued a strike notice at Pottstown Memorial Hospital, a Community Health Systems facility where the previous labor contract expired in August. The move comes after CHS officials appear to have gone AWOL.
Speaking at the press conference, hospital workers said their employer failed to “show up” at the three previous meetings in which negotiations were expected to continue. Roy Feick, a certified pharmacy technician at the hospital for five years, said CHS has shown “no respect for us at PMMC or the community of Pottstown … otherwise they would attend negotiations.
“We can’t negotiate with ourselves; we need CHS in the room,” he added.
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Rash’s target sets a timeline
Posted on at 10:55 am
Coffee Health Group, the holding company for some North Alabama hospitals former Province CEO Marty Rash wants to buy, has hired Shattuck Hammond to help it hammer out a plan and a timeline that will focus on “marrying the ideals of Coffee to potential buyers.”
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So after looking at the numbers…
Posted on November 13, 2009 at 1:26 pmPali Research analyst Sheryl Skolnick has revised her 2010 EBITDA estimates for Nashville’s large hospital players. Taken together, she sees the companies earning almost $8.6 billion from operations, a net drop of $79 million from her previous forecasts. The main culprit: Bad debt.
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HCA gets modest in Jacksonville
Posted on November 12, 2009 at 9:09 amRather than the 150 beds they had originally envisioned at their third Jacksonville hospital, HCA officials have dialed back their plans to about $130 million. But that doesn’t appear to have persuaded Ascension Health’s area execs to drop their opposition to HCA’s intentions.
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Biz groups on health reformers: They’ll come around
Posted on November 10, 2009 at 9:34 amHealth care trade associations are betting the Senate version of the health reform will win out in the tussle to come.
Many of the House-passed provisions may end up missing from the version being spearheaded by Senate Majority Leader Harry Reid, a Nevada Democrat. If the Senate passes a separate bill, it will have to be merged with the House plan, giving industries weeks or months to whittle away at policies they don’t like.
“Passage of the House bill is historic,” said Paul Heldman, a health-policy analyst with Potomac Research Group in Washington. “But there’s a whole other chapter in the debate yet to be written.”
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Lake Wobegon Medical Center welcomes you
Posted on November 9, 2009 at 2:47 pmA new survey by Health Affairs says 99 percent of hospital chairman think their facility provides above-average care. Its authors provide one interesting regulatory suggestion.
The large differences in board activities between high-performing and low-performing hospitals we found suggest that governing boards may be an important target for intervention for policymakers hoping to improve care in U.S. hospitals.
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LifePoint explains admissions slump
Posted on at 1:29 pmLifePoint Hospitals CEO William Carpenter said on a conference call Friday that the hospital company’s 3.7 percent drop in third-quarter admissions was largely the result of a switch from short-stay admissions to observation visits. “We remain confident we’re not losing market share but are capturing the same patient on an outpatient basis,” he said.
Investors seem to be OK with that explanation: LifePoint shares (Ticker: LPNT) are up about 2.5 percent today and have risen more than 5 percent since their Friday morning low. Year to date, they’ve gained 30 percent.
Quorum prepares to hand off Arkansas hospital
Posted on November 6, 2009 at 9:56 am
Sparks Hospital in Fort Smith, Ark., has agreed to sell itself to Health Management Associates for about $138 million, which means the two Quorum Health Resources who have been managing the 492-bed facility will soon be on their way back to the CHS home office in Brentwood.
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If you wanted to nitpick HCA’s numbers…
Posted on November 5, 2009 at 1:33 pmSheryl Skolnick at Pali Research is impressed by the growth in cash flow and admissions at HCA. But she’s not thrilled about bad debt or the expense item that accounts for 42 percent of the hospital giant’s operating costs.
The increase in bad debt is one thing. More troubling than that was the higher than expected labor costs as a percent of revenue: HCA appears to have lost some leverage here.
SEE ALSO: HCA volume growth best since ‘02
Why you’re not hearing from hospitals in the reform debate
Posted on at 12:07 pm
A former CMS boss tells Blake Farmer they’re quite satisfied, thank you, with the lukewarm, wishy-washy way things appear to be going.
“If you really want to do the right thing and finance this thing and pay for it, hospitals should probably be taking a bigger hit as should probably a lot of the providers, but that’s not likely to happen.”
Vanderbilt opens $169M critical care tower
Posted on at 9:42 am
Vanderbilt University Medical Center is cutting the ribbon on its 11-story critical care tower today. The $169 million building has 141 new acute-care inpatient rooms and 12 surgical rooms will immediately house VUMC’s surgical intensive care, neurological intensive care and medical intensive care units.
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