Despite warning the pandemic would destroy U.S. hospitals, Beaumont overall had a very good year in 2020, increasing its reserve by $1 billion to $3.5 billion. Hospital prices in southeastern Michigan are among the lowest in the country, so one would have to be incredibly nave to believe Spectrums claim that its takeover will lead to more affordable care. Despite these challenges, our team members continued to provide nationally recognized health care and we were able to make new investments in the market and bring on new talent, Spectrum said. The nursing shortage in our state is a critical and complex challenge that must be solved with bold and collaborative solutions, the Detroit Free Press quoted Freese Decker as saying. Starkman: Why Beaumont's John Fox Could Haul More Than $30 Million Back to Atlanta Tweet Share February 02, 2022, 4:58 PM Beaumont CEO John Fox The writer, a Los Angeles freelancer, is a. Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. Whats becoming increasingly obvious is how Freese Decker, like John Fox, is prone to making public statements that have no basis in fact. Not a situation one would expect given that Freese Decker said her biggest priority was building a health system that celebrates and reinforces diversity and inclusion.. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, A Zoom video conference call that was leaked this week, a month membership or a one-time donation, Sh** Show At Beaumont Endoscopy Suite In Chaos Amid Nursing Shortage, C-Section Horror at Beaumont Lawsuit Claims Surgeon Left Sponge in Patients Abdomen, Former Spectrum CFO Trashes Beaumont Merger and Warns of 'Massive Financial Loss', Beaumont Health's Merger Partner Reveals its Disingenuous, Deceptive and Disrespectful Nature, Spectrum Healths Black Employees Explore Class Action Lawsuit Alleging Systemic Racism, Beware! To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. It appears that Beaumont Health CEO John Fox won't be bundling his millions and bidding Michigan goodbye as soon as he hoped. BHSH will be the biggest hospital network in Michigan and the states biggest employer. Beaumont, consistent with its practice of putting a spin on undesirable news, notified employees that it is making "good progress" toward . Indiana University Health has 16 hospitals and 36,000 employees. Spectrums four-person communications team also ignored a request for comment. 'The Week That Was:' Will Kristina Karamo Seriously Damage Michigan's Republican Party? Far from it. Fox isnt the only hospital executive looking to exploit the perception that the unvaccinated are responsible for wreaking havoc. Meet Michael Freed, decidedly among the bravest persons in Michigan and one who acts on his conscience when it comes to protecting the health care of his hometown Grand Rapids community. Beaumont was once mostly staffed by highly skilled veterans, among the best in healthcare. Starkman: Electric Vehicles and the Exploitation of Michigan Taxpayers. The nursing scholarship wont alleviate Spectrums immediate nurse staffing issues. That amounts to a Spectrum takeover in my book. Beaumont CEO John Fox is headed for the door Friday. Other state attorney generals have also shown a willingness to take on the powerful interests of U.S. hospital companies. By comparison, BHSH will have 22 hospitals and 64,000 employees. Fox took his marching orders from John Lewis, a retired Comerica executive who came from Oakwood and was named chairman of the combined organizations. He said the expansion would involve a lot of local planning in terms of where these bed towers are located, which seemingly indicates that Beaumont is planning to expand its real estate footprint. If the proposed merger goes through, seven Beaumont board members will serve on the board of the combined companies. I know little about Fream, who served as Beaumonts vice chair for several years. By Eric Starkman. Fox, who has already been paid more than $20 million in compensation since joining Beaumont in 2016, potentially stands to earn tens of millions more if regulators approve Spectrums takeover. The release, which Fream presumably signed off on, said her appointment was part of a normal governance leadership rotational process.. Beaumont Health CEO John Fox, the Atlanta carpetbagger who destroyed the companys flagship Royal Oak hospital while pocketing more than $20 million for himself, appears close to pulling off what he set out to do from the moment he arrived in Metro Detroit six years ago: Merging southeastern Michigans biggest hospital network out of existence. Underscoring Beaumonts disregard for transparency, the company routinely waits till the very last day before filing its Form 990, a document nonprofits are required to make public revealing compensation and other critical information. If there was an annual award for the healthcare industrys biggest chump, I defy anyone to propose a more worthy recipient than Tina Freese Decker, CEO of Grand Rapids-based Spectrum Health. Its reasonable to assume the real reason for Freams elevation was the board knew Fox was close to inking a deal with a merger partner. (Deadline Detroit art work ), Starkman: Why Tree Huggers Must Save This Small Town in Michigan From Ford, 'Detroit In Black And White:' Why We Got Kicked Off 910 AM, Randy Wimbley Leaving Fox 2 After a Decade on the Air. The FTC is headed by Lina Khan, a Democrat appointed by Biden and sworn in last June 15 to a three-year term. The merger talking points for Beaumonts leaders includes a commitment to improve health equity. This from a healthcare company that at the height of the Michigan pandemic last yeartemporarilyclosed Beaumont Wayne, a hospital catering to economically disadvantaged individuals with little or no insurance. Fox also disclosed that Beaumont has earmarked $40 million to purchase state-of-the-art beds, some of which are already being delivered. Instead, they allowed Spectrum to acquire Beaumont, creating Michigans biggest hospital system, as well as the states biggest employer. Bloomberg on Wednesday posted an editorial warning about the growing merger trend among hospitals, noting that it leads to higher insurance prices. Fox in January also disclosed that Beaumont planned to spend significant dollars to embark on a three to five-year plan to expand the health systems private bed capacity. This columnist, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. Beaumonts board failed in their duties overseeing the hospital system they were responsible for protecting. Spectrums joint release with Beaumont says the aim of the deal is to make health care more affordable for the communities we serve. Heres my challenge to Freese Decker: For every independent study she can come up with showing where hospital mergers resulted in more affordable care, I will come up with two showing the opposite. Starkman: Prominent Beaumont Cardiologist Calls for Ouster of Corporate Leaders, The Beaumont Health Superheroes Who Spoke Truth to Power, The Discredited PR Spin of Beaumont Health CEO John Fox, Beaumont and Advocate Aurora End Merger Discussions, Prominent Beaumont Donor Calls for Firing of CEO John Fox and His Key Executives, Starkman: Why Tree Huggers Must Save This Small Town in Michigan From Ford, 'Detroit In Black And White:' Why We Got Kicked Off 910 AM, Randy Wimbley Leaving Fox 2 After a Decade on the Air. Freed is seemingly unaware of how desperate Beaumont CEO John Fox is to find a merger partner and complete the sale before year-end. Starkman: America's Mistakenly Entitled Restaurant Workers February 08, 2023, 12:24 PM - Starkman Approved 'The Week That Was:' Why Police Have Groups Like the 'Scorpion Unit' February 03,. That Fox, who along with Wilson has shown they have no commitment to southeastern Michigan, was allowed to negotiate Beaumonts fate underscores just what an irresponsible disgrace Beaumonts board is. Consultants are part of the . Spectrumissued a statement to MiBizabout the disastrous financials reminiscent of the spin Fox served up during his seven-year tenure. Though a far cry from what Beaumont Health was before CEO John Fox and COO Carolyn Wilson arrived, Spectrum is a quality healthcare company overseen by a responsible board comprised of directors who are pillars of western Michigans business communities. 'The Week That Was:' Will Kristina Karamo Seriously Damage Michigan's Republican Party? Southeastern Michigan residents shouldnt look to Rep. Andy Levin to save the day. The anesthesiologists did this while earning a fraction of their . When you sign the documents that will permanently change this region, your signature will forever hold you accountable for the repercussions, Freed said in a letterhe posted on LinkedIn. She bolted last month. Several prominent Beaumont doctors warned the board they had serious concerns about the anesthesia outsourcing company before it took over, but Beaumonts board ignored the concerns. According to a source, some travel nurses are being paid lucrative wages to work only three or four shifts a week. Starkman: Electric Vehicles and the Exploitation of Michigan Taxpayers. Even when Fox announces a merger deal with Spectrum, theres still no guarantee it will go through. I can suspect what the problem is but, without transparency, I cant know.. The companys chief revenue officer left earlier this month. Yet the, Nessels do nothing stance on healthcare matters is in sharp contrast to her Massachusetts counterpart Maura Healey, who has moved to block the expansion of Massachusetts General Brigham on the grounds it will lead to, Former California Attorney General Xavier Becerra won a $575 million landmark settlement against Sutter Health for using the market dominance it obtained through a series of mergers to illegally drive-up prices. Fox is about 70, and given his failed performance, it was a given that he wouldn't lead the combined Spectrum Beaumont entity. Meet Michael Freed, decidedly among the bravest persons in . To support Deadline Detroit's independent. I dont know how we could handle a catastrophe, said a source at Royal Oaks ER. My sense about Spectrum is that if doctors had serious patient safety concerns and felt the need to circumvent management to get them addressed, the hospital companys board would take the matter quite seriously. The financial terms of the deal will reveal whether Freese Decker is as touchy-feely as she appears or whether she can be quite ruthless when a lucrative financial opportunity presents itself. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, AG Dana Nessel and Gov. Fox previously disclosed he talked to more than 100 hospital systems hoping to find a corporate bride for Beaumont. Under their oversight, Beaumont suffered a precipitous decline in reputation and quality of care. Wright Lassiter III, president and CEO of Henry Ford Health System, is chair of the AHA. Employees blame them both for Beaumonts implosion. Much of Freeds letter focuses on why merging with Beaumont is very bad for western Michigan residents, but in doing so he calls out Beaumonts lack of financial transparency and notes that the few disclosures Beaumont makes dont add up. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, Tina Freese Decker, Spectrum president and CEO, a month membership or a one-time donation, Beaumont CEO John Foxs Final FU to Detroit: Merger with Spectrum Health, Beaumont Health Chair John Lewis -- Champion of CEO John Fox -- Stepping Down in June, Beaumont Manager Moved to Sabotage Anesthetists Concerns About Critical Drug Pump Shortage, Beaumonts John Fox Set to Unload Historic Bloomfield Hills Estate, Beaumont Nurse Anesthetists at Royal Oak, Troy and Grosse Pointe Vote Overwhelmingly to Unionize, Beaumont Forces Suspension of Leader of Nurse Anesthetist Union Drive, Andy Levin Goes After Amazon's Union Busting in Alabama, but Silent About Beaumont. The only aspect of the deal worth cheering about is that Fox will finally be removed from Beaumont, but the company shouldnt have to lose its independence to make that happen. Beaumonts flagship Royal Oak hospital only garnered a four-star rating and its other hospitals earned two-and three-star ratings. Fox didnt disclose how much Beaumont will spend to fund its real estate expansion. Carey has spent more than 20 years as a . Its a vicious cycle, one that I doubt Spectrum has figured out how to solve. Beaumonts John Fox Is Laughing All the Way to the Bank, Beaumont Nurse Anesthetists Move to Unionize to Combat 'Unsafe' Staffing Conditions, Avoid Beaumont Like the Plague,' Warns Podiatrist Who Underwent an Endoscopy at Royal Oak Hospital, Metro Detroit Mourns Passing of 'Gentle Soul' Richard Curbelo, Medical Examiner Conducted Autopsy of Beaumont Colonoscopy Patient After Concern Raised, Remembering Richard Curbelo Who Died Undergoing Beaumont Colonoscopy, Beaumont Hospital Staffers Horrified After Patient Dies During Routine Colonoscopy, Ostriches On Beaumont Health's Board Belong at the Detroit Zoo, Henry Ford's Wright Lassiter Puts Beaumont's John Fox to Shame, Beaumont's Demise Assured as Board Ignores Calls for CEO's Firing, Prominent Beaumont Cardiologist Calls Out CEO John Fox for Deception, AG Nessel Reaffirms She's Do Nothing Dana' on Healthcare. The situation has become so acute that an ICU patient was recently treated in Troys ER. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, a month membership or a one-time donation, Beaumont Health Chair John Lewis -- Champion of CEO John Fox -- Stepping Down in June, Beaumont Manager Moved to Sabotage Anesthetists Concerns About Critical Drug Pump Shortage, Beaumonts John Fox Set to Unload Historic Bloomfield Hills Estate, Beaumont Nurse Anesthetists at Royal Oak, Troy and Grosse Pointe Vote Overwhelmingly to Unionize, Beaumont Forces Suspension of Leader of Nurse Anesthetist Union Drive, Andy Levin Goes After Amazon's Union Busting in Alabama, but Silent About Beaumont. Also, if you wish to support Deadline Detroit's. If (Beaumonts) operating margins are adequate, and they have plenty of cash, whats the problem? Reach Eric Starkman at eric@starkmanapproved.com . He previously concluded a deal with Akron-based Summa Health but backed out despite already having received regulatory approval. Spectrum also reported that Beaumont lost $253 million on its investments. I expect Fox to promote the deal as a merger of equals and its possible the Beaumont name could be retained in some capacity, but dont be fooled: The combination is Foxs Hail Mary attempt to cash out and distract from the extensive damage his leadership has caused. Studies also show that hospital mergers also result in a decline in patient care. That's bad news for Metro Detroit's biggest hospital . Beaumont spokesman Mark Geary ignored a request for comment. Henry Ford in Detroit in years past enjoyed an A safety rating. Beaumont CFO John Kerndl Resigns, Beaumont Nurse Anesthetists Union Drive Could Save Imploding Hospital from Further Demise, Layoffs. Getting more Americans vaccinated is widely believed the ticket to saving lives and preventing hospitals from being overrun with Covid patients at deaths door. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved.. By Eric Starkman. There are some serious issues with NorthStar Anesthesia, the Texas-based outsourcing company that Wilson bet the farm on and losing badly so far. Its totally bizarre.. As one source commented: Why doesnt the board just give Fox $25 million to go away?. As a result, patients requiring hospital admission must remain in the ER, diverting beds and staff normally dedicated to treating emergencies. This columnist, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. In his letter, Freed expresses concern that seven Beaumont directors will be named to the combined Spectrum-Beaumont board and that they could ultimately exert undue influence. The evidence is, Spectrums previous head of diversity was Ovell Barbee, an African American, who Spectrum, Many organizations are not interested in real change, Chris Metzler, the former associate dean for human resources and diversity studies at Georgetown University,, Disparities in healthcare are typically blamed on racism of U.S. doctors and other health professionals. The Freep quoted Oakland University dean of nursing Judy Didion as saying it will take about a year to build the infrastructure until the school can begin to admit additional students. So What? That resulted in Beaumont staff nurses working alongside nurses getting paid considerably more money doing the same job, prompting more staff nurses to leave. How Absurd. Business Starkman: Bloodbath at Beaumont - COO Carolyn Wilson and Top Doctor Ousted; Chief Quality Officer Resigns Tweet Share July 22, 2021, 12:45 PM This columnist, a Los Angeles freelancer,. Ohios AG has won a series of landmark settlements taking on healthcare companies. Disgruntled Staff. Another open position is the Chief Inclusion, Equity, Diversity and Social Impact Officer.. The promised dual headquarters was also BS. The Royal Oak budget cuts were made in 2020, when Beaumont increased its reserves to $3.5 billion from $2.5 billion and Fox earlier in the year warned U.S. hospitals could collapse because of the pandemic. It seems unlikely that Beaumont would embark on a major expansion without the input and signoff of Spectrum, which is awaiting regulatory approval to take over the faltering Southfield-based hospital system. Turns out Beaumonts reported $4 billion reserve also dwindled by the time Fox turned over the keys to Freese Decker. Freed notes that Beaumont claims to have 300 days of cash on hand but doesnt have a top-tier bond rating allowing it to borrow money at the best rates. A responsible board would have fired Fox months ago and brought in an interim CEO with strong ties to southeastern Michigan to try and stabilize the place. Speaking of Oakland University, when Fox announced his ill-fated attempt to merge Beaumont into Chicago-based Advocate Aurora, one of the few benefits he touted was that Advocate Aurora had agreed to move Oakland Universitys William Beaumont School of Medicine to Beaumonts Royal Oak campus. The Detroit Free Press quotedSpectrum's Freese Decker as saying, Today is a historic day. Its one of the rare instances where shes made a statement of undeniable truth. The writer, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. Spectrum and Beaumont announced today that they are moving forward with Spectrums takeover, having provided the applicable regulatory agencies with all requested information. The deadline apparently has passed for the Federal Trade Commission to challenge the deal. Based on what was paid to the CEO of one of Beaumonts predecessor companies, Fox possibly stands to receive more than $30 million to sail into the Georgia sunset. That would mean it will take at least five years for Spectrums nurse program to bear fruit, so it wont do anything to alleviate the current nursing shortage. We talk with many of them, Joanne Giardini-Russell, a Brighton Medicare consultant posted on Freeds LinkedIn page. Spectrums financial statements indicate that cash and investments from the acquisition was $3.2 billion. Starkman: Electric Vehicles and the Exploitation of Michigan Taxpayers. The Chief People Officer position is listed as open, indicating that Ries isnt getting the top HR job at BHSH. Hiring nurses for Henry Fords flagship Detroit hospital is a more formidable challenge because some candidates fear working in Detroit. Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. At Beaumont's Royal Oak, Troy, and Grosse Pointe hospitals an elite team of more than 70 anesthesiologists trained and experienced with intubation performed all the procedures. Typically, when deals of these sorts are announced, the CEO of the acquired company pays lip service to being committed to ensuring a smooth transition and promises to stick around and lend their full support. Rather than having people speculate he was passed over, he chose to step down in advance. Business Starkman: Bloodbath at Beaumont - COO Carolyn Wilson and Top Doctor Ousted; Chief Quality Officer Resigns Tweet Share July 22, 2021, 12:45 PM This columnist, a Los Angeles freelancer,. As often happens when you meld two organizations, the weaker one brings the stronger one down. A merger of Spectrum and Beaumont must be approved by Michigan Attorney General Dana Nessel, who has shown no interest in championing healthcare issues and can be counted on to rubber stamp the deal. The nursing shortage has forced Beaumont Royal Oak to use so-called travel nurses from temp agencies to hold things together in the ER, but this is sparking additional resentment. Freese Decker grabbed the brass ring, but it was badly tarnished. I imagine Fox is luxuriating at one of his Atlanta or North Carolina manors laughing hysterically at the Michigan executive yahoo who took Beaumont off his hands and no doubt paid him millions as part of the deal. According to an email obtained by the Detroit TV station, Beaumont transferred its Covid patients because the CEO said the hospital system was losing too much money treating them. Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. In addition to her Beaumont debacle, theres been considerable turnover in Spectrums senior ranks, mostly women. Less readily understood is why Spectrum would want to do a deal. Freed might want to reach out to Mark Shaevsky, a prominent southeastern Michigan attorney and a former Beaumont board member before it merged with two lesser hospital companies in 2014. Freed doesnt disclose his hunch about Beaumonts financials, which received less oversight than he possibly knows. A trade publication quoted Freese Decker today as saying theres widespread enthusiasm in western and southeastern Michigan for the merger. Those workforce headwinds should have been known to Freese Decker well before she took over Beaumont. Fox trumpeted the deal as a win for Southeastern Michigan because he said Advocate Aurora would invest $1 billion to move the William Beaumont Medical School in Rochester to the Royal Oak campus and upgrade Beaumonts technology. Requiring hospital admission must remain in the ER, diverting beds and staff normally to. Beaumont suffered a precipitous decline in patient care a Spectrum takeover in my book serve on the board of deal! 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Confidentiality assured four shifts a Week reported $ 4 billion reserve also dwindled by the Fox... Can suspect what the problem is but, without transparency, i cant..! Previously concluded a deal with Spectrum, theres still no guarantee it will go through estate.... Independent journalism, please sign up for a $ 3a month membership or a one-time donation theres no! Spectrums financial statements indicate that cash and investments from the acquisition was $ 3.2 billion served... Chose to step down in advance, the weaker one brings the stronger one.. Hospital from Further Demise, Layoffs ring, but it was badly tarnished that i doubt has.
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