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Originally Posted by Mr. V
Why should We, The People have to "eat" this loss?
The hospital administrators who caused this mess should have some accountability, seems to me.
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Responsibility perhaps but accountability is doubtful. They made bad business decisions and that is unfortunate but not punishable in any way. Concord seems to have a better view as the the real direction of healthcare and how finances should be managed.
This seems to be a key point, "decisions by prior management to make significant investments in inpatient services and facilities at a time when patient demographics and medical trends indicated more reliance on outpatient services and decreased hospital use,". It's not that people are getting less care, it is that less of it is delivered in a hospital setting. This has actually been a long term trend. Hospital care is simply very expensive and the medical system has been working for decades to reduce length of stay and even whether to stay in a hospital. Instead, you get dedicated surgical centers and regional treatment options that deliver care more conveniently and economically.
The LRGH administration seems to have been too focused on "the hospital" instead of a more broadly defined system of care delivery. Their current name LRGHealthcare reflects that reality but their business plan did not.
Concord seems to understand that better and has a campus of delivery systems and satellite offices. It's not clear what that bodes for the "hospital" portion of LRGH but health services should be more financially stable and hopefully more robust.