SMITHMIER IN PANIC: HIS EMPIRE IN ITS DEATH-THROES
As a recent poster has alluded, Decatur Memorial Hospital has recently been given a NEGATIVE RATING by Moody's credit rating service. This is the summary from their most recent article on DMH:
SUMMARY RATING RATIONALE
Affirmation of the A2 rating is based on DMH's strong balance sheet, which is characterized by ample cash and moderate debt levels. The A2 rating also incorporates DMH's leading market position, which should be maintained despite recent gains by its main competitor, St. Mary's Hospital, a member of Aa3 rated Hospital Sisters Services. The revision of the outlook to negative from stable is based on DMH's downturn in operating performance that mainly reflects losses in cardiology volumes to St. Mary's. DMH's recent operating losses began in fiscal year (FY) 2010 and are projected to continue through FY 2011 (which ends September 30, 2011). Should this trend continue through FY 2012, DMH's credit rating would likely be affected.
Now we know why DMH administration began their new fraud strategy (Blatant Fraud Continues At The Direction of DMH Administration) in May. New sources say that as of August 1, Prairie Cardiovascular Consultants will no longer be allowed on DMH's campus. Why? I think the answer is clear. Ken has been mismanaging his hospital, paying his doctors (and himself!) way too much money, and now Moody's has given them a negative outlook rating. So, Ken is going to attempt to steal as many of Prairie Cardiovascular's patients as he can and force them to use his employed 'cardiologists' at his hospital.
DMH Board, do you see what you have allowed to happen?
DMH Board, are you REALLY willing to risk peoples' lives by preventing DMH patients from seeing their own competent cardiologists at Prairie?
DMH Board, are you REALLY willing to go to jail with your administrators when the FBI makes their move? You can't really think the federal government is just going to stand by while this crime is committed, do you?
If you won't act, then it's time the citizens of Decatur do so...
NOW IS THE TIME TO CALL FOR A BOYCOTT OF DECATUR MEMORIAL HOSPITAL!!
SUMMARY RATING RATIONALE
Affirmation of the A2 rating is based on DMH's strong balance sheet, which is characterized by ample cash and moderate debt levels. The A2 rating also incorporates DMH's leading market position, which should be maintained despite recent gains by its main competitor, St. Mary's Hospital, a member of Aa3 rated Hospital Sisters Services. The revision of the outlook to negative from stable is based on DMH's downturn in operating performance that mainly reflects losses in cardiology volumes to St. Mary's. DMH's recent operating losses began in fiscal year (FY) 2010 and are projected to continue through FY 2011 (which ends September 30, 2011). Should this trend continue through FY 2012, DMH's credit rating would likely be affected.
Now we know why DMH administration began their new fraud strategy (Blatant Fraud Continues At The Direction of DMH Administration) in May. New sources say that as of August 1, Prairie Cardiovascular Consultants will no longer be allowed on DMH's campus. Why? I think the answer is clear. Ken has been mismanaging his hospital, paying his doctors (and himself!) way too much money, and now Moody's has given them a negative outlook rating. So, Ken is going to attempt to steal as many of Prairie Cardiovascular's patients as he can and force them to use his employed 'cardiologists' at his hospital.
DMH Board, do you see what you have allowed to happen?
DMH Board, are you REALLY willing to risk peoples' lives by preventing DMH patients from seeing their own competent cardiologists at Prairie?
DMH Board, are you REALLY willing to go to jail with your administrators when the FBI makes their move? You can't really think the federal government is just going to stand by while this crime is committed, do you?
If you won't act, then it's time the citizens of Decatur do so...
NOW IS THE TIME TO CALL FOR A BOYCOTT OF DECATUR MEMORIAL HOSPITAL!!
posted by Watcher2300 at 7/28/2011 08:47:00 PM
5 Comments:
it is a terrible travisty that DMH is "firing" Prairie Cardiovascular". The Prairie physicians are highly respected in the medical community as well as the public eye. It will have a negative effect on the entire community. But before requesting the community to boycott DMH, you should consider the 2500 employees this kind of action will effect. despite what the administration is doing, the staff still need their jobs and paychecks. administration will eventually get their just rewards...
Probably the best thing DMH could have done to help St. Mary's & Prairie cardiovascular. I predict that very soon SMH will build a state of the art cardiac suite so that the people of Decatur will still be able to receive the fine services of the Prairie Cardiovascular docs. Unlike DMH SMH DOES CARE ABOUT THE HEALTH OF THE PEOPLE OF DECATUR AND THE SURROUNDING AREA
As for the poster who is worried about the poor employees of DMH, where were these same employees when DMH was making its massive layoffs of long term employees, cutting their own benefits, cutting staff numbers to bare bones levels. etc. I don't feel sorry for these staff members. They saw what was happening and did nothing. Now it may be their turn to feel the same pain and humiliation as their former coworkers felt.
City/state employee (vague - don't want to get him in trouble) told me recently that DMH is about to lose its tax exempt status because it is more of a business than a hospital. Only about 1% of its revenues go to indigent care. Is this true? Does a non profit hospital have to provide a certain amount of care to indigents in the city?
If DMH loses its tax exempt status will it still be able to collect from medicare and medicaid?
This friend told me DMH is fighting this with all of its high paid lawyers and smithmier is positive DMH will win.
If this loss of tax exempt status is true does this mean that DMH will have to rely on private pay patients or insurance companies that that don't care whether or not medicare/medicaid will pay?
If DMH does lose its tax exempt status and medicare payments seems that the person employees should blame if they lose their jobs is Smithmier.
Maybe his greed will finally come back to bite him in the a**
Sad but if he does slink off into the night there is another hospital somewhere that will hire him so that they can have a decade or more of great profits.
Hope the feds and state keep him busy for the next few years paying for expensive lawyers to keep his greedy a** out of jail - and make sure he has to pay for those lawyers out of his own pocket. Probably the hospital will have to pay his legal fees too though.
Sad for a once proud hospital.
Thank goodness St Mary's just kept providing good care to patients and didn't get into the mud with Smithmier and the crooks who he hired.
Thank goodness we still can get care from Prairie Cardiovascular at St. Mary's.
Nice job Ken. You did St Mary's work for them.
Now I understand why St Mary's put up the billboard at Main and Pershing referring to the relationship between Prairie Cadiovascular and St. Mary's. Couldn't understand why St. Mary's felt it necessary to advertise what I thought everyone already knew - Prairie and St. Mary's work well together to provide excellent cardiac care to people.
I get it now. St. Mary's in its understated dignified way is letting the people of Decatur know that they put the care of patients ahead of profits and bank acounts of admininistrators.
Also shows the public that they can work and play well with others unlike the people at DMH.
Nicely done St. Mary's.
Smithmier seems to enjoy attention in any form,including the negative form?
He enjoys shooting himself in the foot repeatedly?
Can he spell narcissism?
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