opinion

Do you support the purchase of Landmark Medical by Tennessee-based RegionalCare Hospital Partners?

Posted 2/21/11

Private-equity backed RegionalCare Hospital Partners has signed a letter of intent to buy Woonsocket’s Landmark Medical Center and the related Rehabilitation Hospital of Rhode Island.

RegionalCare, while releasing no specifics of the deal, did commit to a multimillion-dollar expansion of the hospital emergency room services, according to the court-appointed special master for Landmark.

The question is, does a for-profit model work for a community hospital, one that has had a difficult time recently? Would you rather see a local nonprofit, say Lifespan, put in a bid for the hospital?

2 comments on this story | Add your comment
Please log in or register to add your comment
jkeimig@healthcentricadvisors.org

If Caritas Christi couldn't extract reimbursement concessions from Blue Cross why does RegionalCare Hospital Partners think it can? There will be nothing healthy for the State of Rhode Island with an out of state for profit hospital company.

Monday, February 21, 2011 | Report this
Anita

I cannot understand how anyone could be in favor of a for-profit company taking over Landmark.

First of all, Landmark serves a very large low-income population whose insurance (assuming they have it) reimburses care at the lowest possible cost. In addition, Landmark struggled for years to achieve a balanced budget while serving large numbers of the uninsured. That was BEFORE the recession. I suspect those numbers are much worse now. Why would a company spend thou$ands to expand an emergency room that serves such a poor population?

Secondly, as the gentleman above points out, Landmark has fought for at least a decade to win adequate reimbursement rates from insurers in RI - to no avail. I, too, doubt that an out-of-state for-profit hospital group could win concessions from BCBSRI or anyone else.

Finally, the population in northern RI is statistically one of the oldest in a state with an above-average elderly population. (Last time I checked this, about 7 years ago, more than 20% of residents in Landmark's service area were over 55.) So - the only option for "profit" would be serving that Medicare-insured elderly population. Since we spend the vast majority of our US health care dollars on health care "services" during the last two years of life, AND since Landmark has already made an investment in a Cardiac Care Center and a Cancer Center, this must be where RegionalCare Hospital Partners' interest lies.....

I wonder if they realize that since Massachusetts implemented Mass Care (a version of Obamacare instituted under former Gov. Romney, which is now bleeding the Commonwealth dry) Landmark's potential service area is limited to RI - since the great majority of just-over-the-state line MA residents (who could get to Landmark within 5-10 minutes) cannot receive insured health services in RI.

Monday, February 21, 2011 | Report this
Calendar
PBN Hosted
Events

Only a few seats remain for PBN's Manufacturing Awards Dinner and Ceremony, Thursday, April 24th, at the Bryant University Bello Center. Don't hesitate. Register today!
  • Business Women
    Accomplished. Confident. Wicked Smart. Nominate women you know who deserve speci ...
  • 40 Under Forty
    It's the 10th Anniversary of 40 Under Forty, and PBN is planning a special event ...
  • Healthiest Employers
    Enrollment now open for the 2014 Healthiest Employers Program. Please take a mom ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News