It isn't just the summer, although some might be attributed to that,but we are in serious hurt for patients. Low censusing is hurting everyone--those that had vacation time are dropping it into a big void, and more are quitting because they can't get the hours.
They did the big re-model a few years back on 6th (multi-million dollar), and now they don't have the patients (nor the nurses) to keep it open.
And the 'seen within 10 minutes' that they tout--yeah, seen by the screener. It might be hours before being roomed and seen by the doctor. Emails indicate in some cases 9+ hours from 'seen' to discharge for minor ailments.
Now they're sitting between the proverbial rock and hard place. This year has been rough here--going from $1.6M profit to $277k hasn't helped anyone's attitude, and I got an email yesterday that indicated the radiology department is a ghost town. That would be hard pressed to pay staff, much less depreciation.
The bottom line may be this year. If they can't be profitable, it could be what takes Essent down. Kind of the tail wagging the dog....but it's a tail that has half the beds of the dog.... And, if you read the Tennessean, or the Snooze, Dick is in charge of both of the company's dogs. That mean some over-the-shoulder time with Dux and Mikey? Or just being kicked upstairs to being a high-priced dog-walker?
Think Hud could get funding for another try?...frank