Nashville Business Journal - 11:16 AM CDT Monday, July 23, 2007
Earnings for LifePoint Hospitals Inc. fell 62 percent in the second quarter compared to the same time last year, missing analysts' estimates by about 38 cents per share.
The Brentwood-based hospital operator had net income of $13.4 million, or 23 cents per diluted share, in the quarter ended June 30. In the prior year's quarter, LifePoint earned $34.8 million, or 62 cents per diluted share.
The company attributed the drop to bad debt, contract labor costs and professional fees and medical malpractice insurance expense.
Also injuring earnings were impairment charges for discontinued operations - $8.5 million and $16.4 million - related to the disposal plans of Coastal Carolina Medical Center in South Carolina and Colorado River Medical Center in California, respectively.
An average of analysts' estimates predicted the company would earn 61 cents per share in the quarter on $656 million in revenue.
Revenue for the quarter was up 16.8 percent to $654.3 million.
LifePoint (NASDAQ: LPNT) lowered its earnings guidance along with its second quarter results. It now expects to earn between $2.15 and $2.25 per share for the 2007 year on revenues of $2.63 billion to $2.65 billion. It previously predicted earnings of $2.42 to $2.52 per share on revenue of $2.68 billion to $2.69 billion.
LifePoint Hospitals provides health care services in non-urban communities in 18 states. It has 49 hospitals.
The company's stock price fell about 13 percent to $34.01 per share at 10 a.m. The stock's 52-week range is $30.89 per share to $40.80 per share.
http://www.bizjournals.com/nashville/stories/2007/07/23/daily4.html?from_rss=1
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71 comments:
What we have seen in Danville is no doubt a microcosm of the way LifePoint conducts all areas of its business. We have seen them spin and lie, spin and lie in dealing with the public as well as the dedicated employees of Danville Regional.
We can be certain that's the way they operate at every level, and now, with these audited numbers in, The Spin Stops Here, as one of the TV talkers likes to say.
LifePoint was born from sleaze, of course, and seems to have nurtured that sleaze into a culture that is all LifePoint's. It's good to know that the word is getting around.
You bunch of idiots. Danville and this silly blog has NOTHING to do with events like this. Why don't you learn something about business. I don't know why i keep reading this nonsense.
Then please stop reading it and go back down into your hole.
Such a profound response.
YAWN ......
Anyone who thinks the blog is silly should not waste his/her time reading or responding to it. Obviously, the writer has more to lose or gain from the LifePoint ventures than we know. Maybe the writer is "one of their people."
Having visited friends at DRMC who were patients on the new 5th floor explain they are under the same "lack of care" as others have expressed throughout the hospital. They stated they listened to a patient's IV pump in the adjoining room beep for three hours before anyone responded to it. How sad for those sick patients who have no family to stay and look after them. If you don't have family attention, then you just may not have any attention. Where is the nursing staff? Why hasn't the nurse-to-patient ratio increased, or is this the continued ambition of LifePoint to curtail their losses?
Even with our census being lower than usual, we are still not being properly staffed to safely care for our patients. Nurses are being sent home or placed on call or even off, so we still have the same number of patients per nurse that we had before. This is all due to the infamous staffing grids on each floor that dictate how many staff members, not just nurses themsleves, but staff members that are allowed to be present per patient. These staffing grids do not allow for safe staffing as each patient and the care required is different. No matter how bad your patients are, numbers are the only thing that matter to Lifepoint.
So very true.
I swore I would never write anything on this website, but my family's experience has been so awful, the neglect so profound, the weariness of the staff so cruel, that I just want to say that I had rather DIE than to ever go into Danville Regional again. My friend says I should write the paper, but countless people have done that. It's useless and a waste of time.
Goodbye Danville Regional. You are an old friend, and it is sickening what has been done to you. I hope you are put out of your misery before long.
How can the US Govt. allow something like LifePoint to prey on innocent people like this?
--DISGUSTED!
You can only hide the losses so long, Wallstreet has been alerted to the sham which is called Lifepoint. Watch the institutions start dumping the stock, This recent decline is only the tip of the iceberg.
Lord help me. I have to work today ,I think. We still won't have enough staff and we'll probably have to run all over the place .Please Lord stop lifepoint.
What does Lifepoint Hospitals and U.S. Attorney Gonzolez have in common?
You can see both of their mouths moving, yet they say and do NOTHING.
I am a FNP in Nashville, TN. I feel fortunate l found this site. I have been recruited by Lifepoint to relocate to Danville. I have been offered a great salary and relocation package. I thought it might be too good to be true... I was told there were problems with this hospital; staffing shortages, moral, community relations. I was told things were improving. I did not understand the severity of the issues put forth in the site. This is certainly a hornet's nest I must avoid. Here in Nashville Lifepoint has a good reputation among the healthcare community. Thank you for getting the truth out there.
How about the nurse that had to take care of a handful of patients with only the help of a CNA on nightshift and in a building that is not even used anymore? Is this true?
Yes it was witnessed By several of us.
We need to bring in good quality, experienced leadership, the kind of people who can work anywhere they want. Why would anyone in their right mind want to move to our town to work here knowing how they will be welcomed?
What happened?
The integrity of Danville has much to be proud of. Neighbors speak the truth. If anyone wants to move into Danville, they can live in the "city of truth". The people here will welcome anyone whom is honest. This is how true teamwork will make a better tomorrow. So, if you want to live in a city where your neighbors speak truthfully, and tomorrow is a brighter day, we welcome all.
"We need to bring in good quality, experienced leadership, the kind of people who can work anywhere they want. Why would anyone in their right mind want to move to our town to work here knowing how they will be welcomed?"
Please name ONE good quality, experienced leader who was not welcomed.
True, they were all welcomed and given the benefit of every doubt until they began telling lies and spinning the facts.
So true... Larry DePriest (once CEO of DRMC) was an integral part of our community and a wonderful leader. And he and his family were welcomed into Danville!
I think the key here is just what the previous poster said, "good quality, experienced leader". LifePoint, to date, has failed to meet this criteria!
And you can be sure that LifePoint will never meet such standards. It's impossible. Born of sleaze, always sleaze until something throws them at the Foot of the Cross!
Nurse staffing levels are a problem.
I would like to see some recommendations on this site that address ways to improve our ratios. Any suggestions on new ways DRMC can recruit and retain nurses?
"FNP" in Nashville
Pardon my ignorance...whats an FNP?
having been a patient at DRMCin the last few weeks,I can attest to the lack of patient care.my iv pump alarmed,someone came in and did "something".it alarmed again and again I called the desk.this time someone came in,looked and declared there was nothing wrong it was just empty.HELLO!2 HOURS LATER A NURSE CAME IN AND INFORMED ME THAT I SHOULD HAVE CALLED THE DESK!!!!! when I told her that I had she looked at me as if I was a liar.when I told her what the person was wearing her comment was "she wasn't a nurse".add this to my experience of being NPO after midnight the day of surgery and the water was never taken from my room until it was taken and refilled and brought back and they brought me a breakfast tray,I'll never go back as a willing patient.
Tuesday, 07/24/07
Bad debts clobber LifePoint earnings
Its profit shortfall drags down other hospital stocks
By GETAHN WARD
Staff Writer
A 30 percent shortfall in LifePoint Hospitals' second-quarter profits dragged down hospital stocks on Monday, reflecting lingering concerns about unpaid medical bills and weak inpatient admissions.
"The stock market is trying to figure out how much of this is LifePoint-specific and how much of it carries over to other companies," said Sheryl Skolnick, a stock analyst with CRT Capital in Stamford, Conn.
The Brentwood-based operator of hospitals in rural and suburban markets reported earnings of 43 cents a share, 18 cents below the average estimate of analysts polled by Thomson Financial. The sour news sent LifePoint's stock down 17.5 percent, or $6.86 a share, to a closing price of $32.25.
Other hospital operators also declined, including Brentwood-based Community Health Systems, whose stock fell nearly 4 percent.
Some woes self-inflicted
Skolnick wasn't surprised by Community Health's dip, given similarities between that company and LifePoint. She, however, said some of the reasons behind LifePoint's shortfall were self-inflicted ones.
LifePoint executives blamed half of their 18-cents-a-share shortfall on bad debt expense, which cost the company 12.4 cents of each dollar of net revenues in the second quarter. That was higher than LifePoint had forecast earlier this year.
Other factors cited by LifePoint officials for the shortfall included year-over-year increases of $3.5 million in malpractice insurance expenses and $1.7 million in costs to hire workers on a contract basis.
"These are trends we've seen elsewhere in the U.S. that are coming to LifePoint's smaller markets and hurting earnings," Skolnick said. Rising employment costs included those for hiring temporary nurses and expenses to pay doctors to cover emergency rooms on call because of a shortage of such employees.
"While we're not satisfied with the second-quarter results, we understand the issues and we're executing strategies to improve performance," LifePoint Chief Executive William Carpenter III said. "This challenges us to work even harder to achieve the results that we've come to expect."
Analyst Frank Morgan of Jefferies & Co. in Nashville said the results suggest that the bad debt and weak volume trends that have dogged the industry haven't gone away.
LifePoint said it expected revenues of $645 million to $655 million in the third quarter and earnings per share of 50 cents to 55 cents. For the full year, the company said it expected earnings per share of $2.15 to $2.25 on revenues of $2.63 billion to $2.65 billion.
LifePoint expects bad debt to rise 12 percent to 13 percent and admissions to remain flat to up 1 percent this year.
"$1.7 million in costs to hire workers on a contract basis."
Hmmmmmm So there is a cost associated with slashing staff.
"While we're not satisfied with the second-quarter results, we understand the issues and we're executing strategies to improve performance," LifePoint Chief Executive William Carpenter III said. "This challenges us to work even harder to achieve the results that we've come to expect."
ie. You folks are gonna have to work harder, since there will be fewer of you.
FNP = Family Nurse Practitioner, a RN with a MSN (Master of Science Degree in Nursing) who has extensive education in providing primary care for all age groups and passed certification requirements.
To the Nashville FNP
This board is full of people venting. We are a wonderful community not entirly represented in this site. Please, don't let the rantings of a few unhappy people ruin your perception of our hospital and our town. Many of us here are working very hard to overcome our history and move forward to make DRMC the best place to work and obtain healthcare in the region. It is a chalenging but not an impossible task. We will welcome you with open arms and be truly glad to have you.
"How about the nurse that had to take care of a handful of patients with only the help of a CNA on nightshift and in a building that is not even used anymore? Is this true?"
"Yes it was witnessed By several of us."
I have to call BS on this.
Did Ruth answer the FNP question? Wish whoever it was, she would learn how to spell!
FNP,
"Thank you for getting the truth out there."
There is no truth here.
"How about the nurse that had to take care of a handful of patients with only the help of a CNA on nightshift and in a building that is not even used anymore? Is this true?"
"Yes it was witnessed By several of us."
I have to call BS on this.
Hate to bust your bubble on this one but just the ask the two ICU nurses that took turns running from ICU to that floor in order to check on this fairly new (less than one year out of school) nurse to make sure she wasn't getting overwhelmed. The ICU nurses hung IVs, gave meds, and put in orders just so she could do her charting and actually see her patients. You see, that is what team work is all about. Nurses looking after nurses because Ruth and her choosen circle are not going to look out for us.
I agree nurses here really look out for each other. We are a team in the true since of the word. It is not uncommon for the Amazing nurses in the ICU to help us out whenever they are needed.
Looks like we've entered the negative spin zone.
No just telling the truth. That poor nurse was busting her but alone and for someone to downplay her situation by calling it BS is disgraceful and an insult to that nurse and the ICU nurses that helped her.
Come on think about it. I'll help.
The story just doesn't ring true. A new nurse somehow ended up on an abandoned floor with a "handful" of patients and a CNA so ICU nurses had to run back and forth to an abandoned floor to care for patients.
It sounds like myth maybe derived from true experience.
ICU nurses always get pulled to help the ER, Medsurge, telemetry, you name it, not to mention rotating sic, cic, and any other ic. The only ones immune are the nicu, no sorry, they get pulled to picu. It was one of the things I disliked about working in the units. It is the same everywhere. Ask any ICU nurse at any hospital in the country. Always has been, always will be,just like taking call, working holidays, weekends, and coming in on our day off to evacuate patients. We may not always like it but we do our job because we care.
The floor was not abandoned. it was one of the regular med-surg floors. The patient census was seven. Staffing grid calls for 1 nurse and a CNA. The ICU nurses were not pulled to help her they went to the other floor to give her some relief. Again, the floor is a regular med-surg floor that has always been functioning as such. And yes, it is the truth.
Yep, true, saw it and was there, 1 nurse 1 CA, & 7 pt's.
Shares of LifePoint Hospitals End Lower
Tuesday July 24, 5:06 pm ET
Shares of LifePoint Hospitals End Lower Following Analyst Downgrades, 2nd-Quarter Earnings
NEW YORK (AP) -- Shares of LifePoint Hospitals Inc. fell Tuesday on two analyst downgrades, after the company reported weaker-than-expected second-quarter results and reduced its full-year forecast.
Shares of the hospital operator fell 13 cents to close at $32.12, on higher-than-average volume. During the day, the stock hit a new 52-week low at $30.59. Shares have traded between $32.22 and $40.80 in the past 52 weeks.
On Monday, LifePoint's shares fell sharply after it reported that profit fell 62 percent in the quarter, as it recorded charges related to the sales of two hospitals. It also said bad debt, labor costs and malpractice-insurance expenses hurt results.
LifePoint cut its earnings guidance to between $2.15 and $2.25 per share for the full year on sales of $2.63 billion to $2.65 billion. It previously forecast a profit of $2.42 to $2.52 per share, and $2.68 billion to $2.69 billion in revenue.
Stifel Nicolaus analyst Jerry Schluderberg lowered his rating on the stock to "Hold" from "Buy," saying management failed to give a clear sign on how it plans to improve operations in the near term.
CIBC World Markets analyst Michael Wiederhorn downgraded the stock to "Sector Performer" from "Sector Outperformer," citing concern over the current management team and its hold on issues that affected the latest results.
Other analysts were a bit less pessimistic.
Leerink Swann & Company analyst Ann Hynes maintained the firm's rating on LifePoint at "Market Perform," saying the stock is fairly priced given the company's operational challenges.
Note the 52-week low of 30.59 mentioned in the article above. LPNT's stock currently sits at $30.02 (as of 11:37 on 7/27)
$30.02 looks like a good price for LPNT stock. Where can I get some?
Night shift, med-surge floor, 1 RN, 1 CNA, 7 patients, ICU RN relieves med-surge RN for dinner/break.
Okaaaay. Not ideal. But I call that a pretty common staffing scenario across every med-surg floor in the country.
How did we get to baby nurse all alone with a CNA and bunch of patients in abandoned building with ICU nurses running back and forth?
GREED.
Nurses running around to all floors while they have patients is not common in the US and is disgraceful.I've not seen anyone else come to relieve ICU or 3B for breaks either.
Travel some.
Would someone please educate me?
What are the nurse ratios supposed to be? What are they at DRMC? Who decides? Are there standards? What are they?
Thanks.
A good national standard is somewhere between 7.5 and 8 paid hours per patient day. And that's generous. Funny though...the best Australian hospitals do it with 5.5 hours per patient day. Amazing!
The state of Virginia has no staffing laws for hospitals, only nursing homes. Here at the good ole DRMC we use staffing grids. Staffing grids are not the same as minimum staffing ratios. These grids are used to calculate how many patient hours are used per day. The staffing grids also include your director, clinical manager, clinical educator, secretary, CNA, LPN, and RN in your patient hours. On the med surg floors we basically have to have 8 patients per nurse before we get to have more staff. So this is how it works, you have 23 patients on your floor=you can only have 3 nurses, RN/LPN mixed. So thats 8 patients each for two of the nurses and 7 patients for the other nurse. This is including one of those nurses has to be in charge. Typically if we get a few admissions we just end up having to take them without additional staff because there is no more staff available. So we have occasionally had to have 10 patients each. We typically only have 1 CNA sometimes 2 if they don't get pulled to another floor. The director and clinical manager also count towards our staffing grids so that just means less direct patient care nurses because they don't take patients.
So in a nutshell, no we do not have mininum ratios. Lifepoint has set their own standard and it does not allow for good quality patient care.
The MD's at a meeting with lifepoint recommended a minimum staffing plan for safety and pt flow, lifepoint wouldn't hear of it. You see they only want the money, no hippacratic oath.
Thanks for the education. I am really trying to understand this process. Does anyone know what staffing ratios/grids are in place at other places...say Duke or others?
As a former DRMC nurse and now a Duke nurse let me fill you in on our ratios. I left because I got fed up with the dangerous nurse-patient ratios from Lifepoint. At Duke in all of the ICU's Duke's ratio is 1 or 2 patients per nurse depending on acquity. DRMC is 1,2,3 patients per nurse depending on numbers and acquity. The unit I work on is a 16 bed critical care unit and we schedule 10 nurses on day shift (this includes a charge nurse and nurse educator that floats)and 9 nurses at night (minus the educator floater), so you have 8 floor nurses for the sixteen beds day or night. Our charge nurses do not take patients they are there to task, float, relieve for breaks, and run the unit. The charge nurse at DRMC must still take patients and try to do everything else. DRMC's ICU is an 18 bed unit, but, is only given enough FTE's to schedule 4 or 5 nurses per shift (you do the math). Step down Duke 3-4 depending on acquity; 3-B 6-10 depending on numbers not acquity. Duke Med-surg 5-6 depending on acquity; DRMC 10-15 based on numbers. Furthermore, once Duke hits there limit based on numbers and ACQUITY they shut down the floor. DRMC motto "If there is a bed put them in it whether there is a nurse to take care of them or not". This does cause patient's to wait in the ER longer, but it is safer to wait in the ER, where they can let cold and sniffles sit in the waiting room for as long as needed, then send them to a floor with limited staff. You see nurse ratios at Duke are based somewhat on numbers, but, mainly on acquity. DRMC is based solely on numbers and a little bit on acquity in the ICU.
You are 100% absolutely correct lifepoint does not care about anything but money, and they are jeopardizing lives with their lack of staffing, but I guess Christmas is coming and the "O"s need the bonus money. Really depressing to know you'll have 3 critical patients everyday (when the
"season hits")and no help.
I'm glad Duke still has some values.
I'm working on leaving this nonethical circus called lifepoint.
I agree with the above poster. I have a sister who is anurse at UNC and a brother who is a nurse at Wake Forest. Both of them have been trying to get me to quit for over a year now, I think the time has come. I have talked to them and there ratios and they are exactly the same as at Duke, from what the poster says. I bet if you checked with other facilities in comparable size, not a small facility like Person or Morehead, but a 300+ facility, I think you will get the same answers. Also, look at the mandatory nurse:patient ratios in California to find an example of how things should be done.
Absolutely.
Nurse math:
18 bed ICU with 4 nurses = 2 nurses have 4 patients and 2 nurses have 5 patients.
with 5 nurses = 3 nurses have 4 patients, 2 nurses have 3 patients.
In the ICU???!!!???!!!
@#*&!!!
Medsurge nurses have 10-15 patients.
No BS???
It is true. The FTE's for the ICU say that even though they have 18 beds they are only given enough staff for an average daily census of 9 patients. When you go over 9 they get help from the float poll, if someone is available, and hope that their own nurses will work exrta. ??!!?? Yes med-surg 10-15 patients. Not even close to safe or ideal, but, a reality with Lifepoint.
Oh and don't forget that as of July 28th there will be NO more incentive pay for anything,per Queen Ruth ,the e-mail is posted on the floors.
ALL of the surrounding hospitals offer some type of compensation for extra or odd time accomodation, I guess the night and weekend incentives will be next.
quick assessment ICU; we have an average ICU census of 9 and staff 4-5 nurses. If we get extra patients we have to call in extra help... This is a real problem maybe because we don't have enough floaters and our ICU nurses are not only tired of working overtime, they are really PO'd about an email from Ruth saying no more overtime pay.???
Do I have it right?
quick assessment Med-surge;Day shift 10-15 patients/ floor nurse?... ER patients are getting pushed up quickly in order to improve ER services. This is putting a real strain on floor nurses.
Is this correct?
I pose a question to the bedside nurses in the trenches;
If we have approx 300 nurses now-
How many more nurses need to be hired to get us where we need to be?
Random staffing check; 07/29/07 10:10 am. 4th floor med-surge nurses have 6 patients.
"they are really PO'd about an email from Ruth saying no more overtime(read incentive) pay.???"
Extremely
"ER patients are getting pushed up quickly in order to improve ER services."
Yes,Doesn't improve it,it just delays it until another floor can do it , actually makes things slower.
"This is putting a real strain on floor nurses.
Is this correct?"
Yes.
"How many more nurses need to be hired to get us where we need to be?"
About double , back to where it was.
Anyone tripled in ICU today, how about the #'s for the other floors?
ICU 2 nurses tripled. Due to short staff, director taking 2 patients herself.
At DRMC you never have 18 patients in CCU. Come on, tell the truth.
No one ever said we had 18 patients. Poster said they were licensed for 18 beds.
You are right. Pre Lifepoint we kept around 16 patients because we did not ship hardly anyone. After the buyout we have around 8-10 average.
and for the last month about 1-3.
Is there a way to find out about other places LifePoint is trying to buy out hospitals? Isn't it very important to work to spread the word about what has happened to us here in Danville?
It is important. Many community hospitals in rural areas have been done the same way....with no regulation. Joint commission has always been a voluntary checking system in the past-where the hospitals sent in their own forms. And joint commission standards do not include nursing to patient ratios-one of the most viable indicators of recovery.
Another point: CNA's have very little education in most states. Some get their CNA with a vocational education class while in high school. It cannot be assumed that they could make a real medical assessment need on a timely basis. Some do not understand the importance of accurate bathing proceedures and the important it in prohibiting infections, so they require constant supervision. They get their best training while on the job under good supervision of an excellent nurse-if one is around, and not extremely busy.
Lifepoint doesn't like to hire nurses with much education because they require more hourly rate. They can also identify needs within the organization that should be addressed for overall healthcare quality-which leads to expenses.
Management and directors do not get as much bonus this way. It allows for less "up-fund" funneling.
For anyone who has done much research on the management and backtrack the ownership of this corporation, you could see why the next year could be very hazardous for the patients, and why the management will not hear of making any changes.
As you "wonder" why a corporation seems to "act" like they are trying to help people, but don't, you end up looking at national politics. Past and present. It's astonishing to see how rural America helps fund these ventures, helps to create some of whom "Forbes" calls the wealthiest people in America, and understand the financial ties in some of the rural environements. And then you have to wonder, "How do these guys sleep at night?". They know what they are doing, and the lives its costing...they know just how to set it up and work "the systems" because they are aware of the dyanamics within the organizations. They are medical too, with medical and political experience, and in the past they have been very well "versed" in dominating the media. Wealthy and political brothers can do a lot of harm to rural America, given the right people are in the right places at the right times. With our nation's re-active state of legislation, this is an extremely desparate nightmare for rural America. Changes are slow because it takes time to research all the elements and do all the math, then make legislative corrections. Then the fight is among big money, big money deals, and investigating past and present political and judicial movements.
However, if people do not voice loudly, no-one can hear. So yes, all rural communities need to hear the voices of those in the trenches!
All of the DRMC nurses are the best! You trully are! You definately are the "real compassionate" healers in this nation! I applaud your courage, while physically exhausted! You are making a change for the good of all! May God Continue to Bless You Each!
I certainly hope that the BANKERS understand what they did to Danville now. One always reaps what they sew.
Rural communities have been squeezed all they can be fellas. You are going to have to find better ways to get your juice. Especially when Lifepoint is in the banking business too. I guess you didn't know, they'll get their money first. They'll even sedate the community and start their own financing solutions!
Example: Shot of morphine, "Please sign here."
And at that level, what real judicial recourse has there been to provide compensation.
And at that level, what proof is there regarding circumstances for the innocent that doesn't get changed, or covered up later.
And at that level, dead people can't testify.
Just how much more juice did you think there was? When juice becomes blood, it must be exposed. It is wrong.
It is not just because the deal was exposed that all this happened.
It's because instant greed allowed other community control to come in.
Perhaps you'll understand better this way.
This is a normal brain-
($20,000 +24%int = $14,800 Princ. + Interest = Pretty nice house payment= bankers get interest and principal payments timely)
This is a brain on drugs-
($20,000 + 24% interest = "Wow I used to be 24! OK)
The larger factor however is fear.
People will protect their lives over their house. It's a natural instinctive behavior, driven by fear. Sick or injured people do not make rational or planned decisions. Rural people act spontaneously regarding life threatening conditions. Some follow what is loudest. It is a manipulation of fear.
I hope WALLSTREET realizes:
Rural consumers have the best intentions, however:
Bad debt can sometime incur and mulitply due to fear of no future medical help.
Bad debt can also incur because there just isn't any more consumer spendable funds. Remember, that pharmecy gets next money-pharmecy suppliers get around 10% of healthcare expenditures! (There's a secretive back scratching-
Wallstreet investors shouldn't go there right now though, either)
Bad debt can also incur because consumers realize they didn't get quality service, and they refuse to pay for something that they did not receive.
You are right! But the Bank Boys do not care at this point. They've sucked all the blood they can suck without going to jail, so now they find new victims. Ain't complicated.
Lifepoint's net income for the last 3 quarters:
$38.4 million (4th qtr 2006)
$29.8 million (1st qtr 2007)
$13.4 million (2nd qtr 2007)
from
http://finance.yahoo.com/q/is?s=lpnt
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