More money, more debt
The financial solvency of FMHHS has been a concern since the $65 million dollar expansion. The current financials are below targets, directors were asked to cut their budgets and employees have been asked to work harder. We continue to see and feel the shortage of beds and fight the battle of frequent diversions.
The CEO is asking for Board approval to borrow even more money to increase the number of beds since this didn’t get accomplished with the first $65 million dollar bond.
Many are wondering just how much debt the hospital can afford. If certain financial numbers reach predefined levels, the hospital management could be taken over by someone else based on the Bond insurer.
County Commissioners always said they never wanted the hospital sold, but if it were to become a financial drain to the county, they may reconsider. Who wins if a county hospital is sold?
It typically isn’t the employees, physicians or the community. But when you look at other hospitals that have sold to larger organizations, the CEO usually comes out with a nice package. We certainly hope something similar doesn't occur here. It is frustrating to think the people making these decisions that will impact FMHHS for the next 20 years will not even be around in the next 3-5 years.
A local Louisville hospital had similar circumstances and the new people in charge are having to clean up the mess and try to turn things around.
It is now day 2 of restricted comments. How is it making you feel?
posted by Anonymous at 6:12 AM
1 Comments:
As stated yesterday, this is only a short duration of limited access to comment on this blog. The plans are to return to the open format on Monday.
This is a demonstration of how fair this blog has been but how angry it makes people when they are completely powerless to voice any complaint or concern.
It also shows the ongoing vitriol of someone who has a hidden agenda and will not identify themselves.
Our ongoing critic "DiogenesTrainee" who continually refuses to identify themselves but is ever so eager to spew hate sent this email this morning. This is unedited and copied exactly.
"I feel two things: First that your ego has finally
taken full control and you now have an UNCHALLENGED
forum in which to spew your hate without being held
accountable for your exaggerations, misrepresentations
and personal attacks.
Second, based on many of the things you have written
in the past which I later learned were absolutely
wrong or biased, I just don't believe anything you
say."
I could have chosen to have an unchallenged blog from day 1. I chose not to because I believe everyone should have some input.
We'll open things back up on monday.
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