Did you know price-gouging for profit was part of the deal?
"Partners ends its year on a high note; $45m gain puts system in the black" by Robert Weisman, Globe Staff | December 4, 2009
Aren't you glad SOMEONE DID, Bay Stater?
Oh, yeah, ABOUT THOSE STATE BUDGET CUTS in the HEALTH SECTOR....
Partners HealthCare, rallying in the fourth quarter after posting an $18 million deficit through the first nine months of the fiscal year, yesterday reported a $45 million gain for the 2009 fiscal year.
You KNOW WHERE the $$$ is coming from, right?
The state’s largest health care system, which had been in danger of recording the first annual loss in its 15-year history, instead said it had operating income of $164 million for the 12 months ending Sept. 30. That was partly offset by nonoperating losses of $119 million, largely from the hospital group’s $4.6 billion investment portfolio.
Related: Partners in Looting
Swapping Partners Good For Health
Yeah, isn't it NICE that the HEALTH COMPANY is GAMBLING with the HEALTH MONEY after GOUGING YOU FOR IT!?
Considering the deficit Partners had run for the first three quarters, the results represented a late-game victory for the nonprofit parent of Massachusetts General Hospital, Brigham and Women’s Hospital, and other health care providers.
If it is a NONPROFIT why are they MAKING PROFITS?!!!
And it turned around ALL of a SUDDEN, huh?
Peter K. Markell, Partners’ vice president of finance, attributed the fourth-quarter turnabout largely to a recovery in the value of the organization’s investments, which had plummeted in the first half of the year....
Yeah, strange how that pension never came back, huh, American?
Unlike many other Massachusetts hospitals, which cut their workforces during the past year, those in the Partners system added about 800 to 900 jobs in total, Markell said....
Is that why we get the PRICE-GOUGING on the COSTS?
So more loot can be lavished on the well-connected?
In the fiscal fourth quarter, Partners showed a gain of $63 million, including $35 million in operating income and $28 million in nonoperating income....
If you are a NONPROFIT how are you GAINING in OPERATING INCOME?!
Markell said Partners hospitals continue to see increases in patient traffic, partly from those newly insured under the state’s 2006 health care law, and expects to hire 800 to 900 employees in the coming year. But he said the outlook has been clouded by uncertainty over possible changes in how Massachusetts hospitals and physicians are paid as well as the proposed national health care overhaul. “Looking forward, it’s going to be challenging,’’ Markell said. “The pressure to hold down costs is going to continue.’’
Related: Why the Nation Doesn't Need Massachusetts Health Care
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Also see:
- The Massachusetts Model: Working Or Not?
- The Massachusetts Model: Going Out of Business
- The Massachusetts Model: Crazy Coverage
- The Massachusetts Model: Immigrant Insult
- The Massachusetts Model: Profit and the Paycheck
- The Massachusetts Model: Doctors' Diet
- The Massachusetts Model: By the Numbers
- The Massachusetts Model: Treasurer's Assessment
- The Massachusetts Model: Care-Keeping Costs
- The Massachusetts Model: Mass. Hospitality
- The Massachusetts Model: Lessons Learned
- The Massachusetts Model: Non-Compliant Complacency
- The Massachusetts Model: Office Visit
- The Massachusetts Model: Student Shakedown
- The Massachusetts Model: Medicaid Mess
- The Massachusetts Model: Destroying Small Business
- The Massachusetts Model: Upset Stomach
- The Massachusetts Model: Poor Hospitals Shortchanged By State
