A Cerberus Give-Up The Ghost Strategy For Carney Hospital: The Seiu

Jessica Bartlett at the Boston Business Journal reports that Steward Healthcare System, owned past times somebody equity theatre Cerberus Capital Management, has named Walter Ramos, CEO of DotHouse Health, a wellness pump inward Dorchester, to move the novel CEO of Carney Hospital.  By all accounts, Mr. Ramos is an first-class choice, amongst a proficient administrative background in addition to agreement of the needs of the neighborhood.

No, what's to a greater extent than interesting close Jessica's even out is her placement of 2 sets of assertions.  Here's i from Steward's president:

“Carney Hospital is inward the midst of an exciting resurgence. In recent years, Carney has consistently earned national awards for lineament patient care, grown the number of primary aid in addition to specialist physicians, in addition to significantly expanded available services in addition to improved the facilities. We believe Walter Ramos volition supply the leadership needed at this of import fourth dimension at the Carney.”

Here's the following paragraph:

The alter is the latest update at Carney, which saw its onetime president, Andy Davis, denote inward Jan that he would move stepping downwardly afterwards exclusively 3 years inward the position. In a controversy at the time, Davis announced he had been looking to larn out the infirmary for awhile. Under his leadership, the establishment has continued to combat financially, seeing a $1.3 1000000 operating loss inward financial 2011, a $10 1000000 operating loss inward financial 2012, a $9 1000000 operating loss inward financial 2013, in addition to a $6.2 1000000 operating loss for the kickoff 2 quarters of 2014.

That trajectory of losses doesn't audio similar "an exciting resurgence." Indeed, those are pretty big losses for a 159-bed facility.  Add to that the past times problems retaining effective leadership for this hospital. As reported inward the Dorchester Reporter in Apr 2012:

After xiv months at the helm, Savin Hill’s Bill Walczak is out equally president of Carney Hospital. The abrupt shake-up raises questions close the time to come of the Dorchester Avenue facility, which was sold to a somebody equity theatre inward 2010 in addition to is immediately facing the appointment of its 4th president inward 2 years.

So, best wishes for success to Mr. Ramos. It looks similar he has a vote of confidence from the principal spousal human relationship representing workers at Carney:

“1199SEIU members are looking frontwards to working closely amongst Walter Ramos inward his novel leadership seat to assist Carney Hospital proceed to grow in addition to improve,” said Veronica Turner, Executive Vice President of 1199SEIU, inward a release.

Back inward 2007, noting the ongoing financial problems at Carney, I made a proposition that the SEIU could create fifty-fifty amend than working closely amongst infirmary leadership:

Why non . . . remove hold the spousal human relationship purchase, ain in addition to operate Carney Hospital? Let the spousal human relationship exhibit how it tin grip the amount panoply of issues of running a infirmary in addition to demonstrate how it tin profitably operate a neighborhood facility without the form of soil assistance that has been pouring into Carney for all these years. Let the spousal human relationship negotiate contracts amongst the insurance companies, encourage access for low-income patients, hold high regulatory standards for patient care, in addition to create all the other things required of infirmary management, while, of course, providing first-class working weather for staff members in addition to physicians.

What amend means for the SEIU to demonstrate its potential value to the community than to remove hold on this worthy assignment in addition to to create a proficient chore at it?


It's non besides late.  I bet Cerberus would move happy to sell the house at a hefty discount from its master copy buy price.

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