From Bloomberg this week: https://www.bloomberg.com/…/debt-sickened-a-hospital-giant-…
“The standoff over Lutheran provides a window into how CHS, once the largest for-profit hospital chain in the U.S., has allowed facilities to languish, possibly compromising care and destroying investor value in the process.”
NICHE is hard-pressed to agree with CHS spokeswoman Toni Galin commenting to Bloomberg on the MindRay Monitors used at Lutheran and now being replaced, over a three year period as we have been told. MindRay was subject to a FDA warning letter because of faulty procedures and manufacture. Physicians at Lutheran Hospital have had difficulty with some of these monitors. According to Ms. Galin: “many other hospitals use the same monitors. Nevertheless, Ms. Galin stated, ‘CHS plans to spend $500 million on improvements and will recruit new doctors at Lutheran,’ she wrote, adding that ’employee retention there is rising.'”
That too is difficult to understand given that NICHE is told of further FTE reductions over the entire LHN system. Physicians, in particular, seem difficult to recruit according to reports from LHN sources.
Notably, Axios reached the some of the same conclusions as Bloomberg just over a month ago (see https://www.axios.com/the-collapse-of-community-health-syst…). It’s getting increasingly difficult to see a happy ending to the CHS/LHN story.