Monday, August 30, 2010

WSJ on Community Hospital Sellouts

The Wall Street Journal's "Cash-Poor Governments Ditching Public Hospitals" hit on a theme on this blog, hospital sellouts. This post is an index for the wonkish:

--Main reason community hospitals have to sell out, help is a long way away.

--Even three years of Massachusetts reform couldn't save Caritas Christie, the largest community hospital system in New England, from the jaws of hellhound Cerberus Capital.

--Chip Kahn, the creator of Harry & Louise ads in the 90's, heads the Federation of American Hospitals (FAH). FAH is the for-profit hospital lobby. Chip joined hands with Bill Clinton to push PPACA.

--White House health reformer Nancy-Ann Deparle played key roles for LHP Hospital Group, prior to her political appointment. She has a history of converting community hospitals to for-profit. LHP is mentioned in the WSJ in relation to an Alaska hospital deal.

--The Senate rebranded "nonprofit community hospitals" as "private tax-exempt facilities" in the health reform bill. Elected officials already knew most hospitals were struggling.

-For deals not in the WSJ article.

Faced with mounting debt, huge burdens of uninsureds and years away from significant help from PPACA, state and local governments sellout their community hospitals. They do so the cheap. Community hospital sales used to fund large community foundations. No more.

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