Replies to post #74943 on Biotech Values

[DewDiligence]

RPh et al: I don’t think the cutback on prescription drugs cited by WAG is worse in your neck of the woods; if anything, the falloff is probably worse in the areas that have borne the brunt of the housing-market implosion: CA, NV, AZ, and FL. Regards, Dew

[xrymd]

I'm curious if these same issues are being seem throughout the US or is it just a regional thing

I can tell you in south florida the same is happening both for physicians and hospitals. Revenues are down for most physicians 10-20& and hospitals 5-10% which is a killer for the hospitals which have grocery store like margins when you factor in adjustments from insurance companies, low per diems from HMO's and uninsured care and bad debt. It hurts physicians as well who generally have been reluctant to cut expenses. The main variable expense is cutting staff which most physicians are loath to do. I work a second job at other hospitals that are short staffed in my profession to maintain my income.

My group switched to a HSA account with a $6000 deductable as the premium for families from the blues was $1800/month and is now $700/month with the switch. This, from my personal experience, impacts healthcare decision making and spending.

[apljack]

Re: The economic impact of the recession of hospitals.

"I'm curious if these same issues are being seem throughout the US or is it just a regional thing."

I can assure you that this is occurring nationwide. I work in a very large not-for-profit healthcare system and our CEO has been clear that ALL of the hospitals within the system have been reporting increases in bad debt, more difficulites with collections and general financial constraints that are weighing down the system. Our facility had been cash flow positive and profitable for only the last few years and the word is that moving forward, losses will be considerable. Austerity programs have been initiated, with a public announcement of a 5% workforce reduction and a temporary call for nonclinical personnel to move to either a 36-hr workweek or to voluntarily take 3 days PTO each month until the workforce reductions can be realized.

I have lost my clerical staff, with the office manager telling me that the rest of the office staff will pitch in to cover her responsibilities, but that I should be ready to cover unmet needs if necessary. I started making my own patient confirmation calls this week and faxing my consulatation to my referring doc's myself.



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