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After posting his letter, Freed noted on his LinkedIn page that Beaumont made $167 million from its operations in 2020, which included revenue recognition of $349 million from the CARES Act and FEMA payments for Covid. Beaumont Troy also operates at a reduced capacity. 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. Support our reporting by becoming aDeadline Detroit memberfor as little as $3 per month. Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. Still, Beaumont is clearly going to be a financial albatross on Spectrums operations for quite some time. 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. "Our staff must care for those unvaccinated individuals who become extremely ill with the Covid Delta variant, or other variants, and try to balance all the other patients coming in with medical emergencies. Ive been looking for the past week and have not located them. So What? Reach Eric Starkman at: eric@starkmanapproved.com. 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. A responsible attorney general would have removed Fox, board chair Julie Fream, and the other Beaumont directors who stood idly by a long time ago. Support our reporting and commentary by becoming a Deadline Detroit member for as little as $3 per month. Ohios AG has won a series of landmark settlements taking on healthcare companies. Beaumont at one point claimed to have 38,000 employees, but with layoffs and unfilled positions its not clear how many employees remain. 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. Beaumont institutionally has a very tenuous relationship with truth. Reach Eric Starkman at: eric@starkmanapproved.com. Six months into Freese Deckers acquisition of Beaumont Health from former controversial CEO John Fox, metro Detroits biggest hospital system is suffering from a pandemic of red ink. Instead, thanks to aggressive cost cutting and other misguided decisions by Fox and COO Carolyn Wilson, Beaumont imploded. The merger could still fall apart if Spectrum has a top-notch duediligence team. Various studies, including one published in 2019 by Harvard researchers, also show that hospital mergers result in worsened patient experiences. Freese Decker should be fired. 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. 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 higher health care costs in that state. Among the benefits of the deal Fox trumpeted was a $1 billion commitment to move the William Beaumont School of Medicine from Oakland University to Beaumonts flagship Royal Oak campus and a significant increase in technology spending. Fox has a change of control clause in his contract, meaning he will likely receive a lucrative exit package. Merging with Beaumont would more than double Spectrums size in some areas. An additional director will also be named. This columnist, a Los Angeles freelancer, is a former Detroit News business reporter who blogs at Starkman Approved.. By Eric Starkman. Studies also show that hospital mergers also result in a decline in patient care. 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. AG Dana Nessel was personally warned by Beaumont donor and former director Mark Shaevsky two years ago that Fox and his board cronies needed to be removed, but she allowed the hospital system to deteriorate, as did Michigan Gov. Beaumont Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. In a company video posted on Vimeo Thursday, Beaumont CEO John Fox disclosed that Beaumont plans to spend significant dollars to embark on a three to five-year plan to expand the health systems private bed capacity. They say waits extending six hours and beyond stem from a chronic shortage of inpatient nurses thats forced the closing of various wards. Spectrums takeover must be approved by Michigan Attorney General Dana Nessel and the Federal Trade Commission. Fox cancelled the Advocate Aurora deal a few days later. 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. If this is a signal of what to expect if Grand Rapids-based Spectrum Health is allowed to rescue Beaumont Health from further decline, maybe the takeover isnt quite as ill-advised as I thought. There is compelling research showing that hospital mergers result in higher patient costs and reduced quality of care. 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. In addition to lacking a CFO and chief compliance officer, Beaumont has yet to find a replacement for its chief marketing officer, who left last September. This columnist, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. She bolted last month. There are no bios or photos of Beaumonts other directors, and thats by intent. Disgruntled Staff. 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. By Eric Starkman Beaumont Health CEO John Fox has no shame. A trade publication quoted Freese Decker today as saying theres widespread enthusiasm in western and southeastern Michigan for the merger. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved. September 15, 2020, 9:36 PM . Also unavailable for clarifications will be Dawn Geisert, Beaumonts former compliance chief. The once proud and respected hospital system merged with two lesser ones in 2015, paving the way for Fox, who was determined to sell Beaumont from the moment he arrived. In a September letter to Michigan Attorney General Dana Nessel warning about Beaumonts implosion, Shaevsky spoke of the need for independent directors to bring some stability to the organization.. The writer, a Los Angeles freelancer, is a former Detroit News business reporter who blogs at Starkman Approved. According to a source, some travel nurses are being paid lucrative wages to work only three or four shifts a week. Fox said Beaumonts lack of private rooms is a large critical area that has haunted us for decades. He said a comprehensive expansion plan would be finalized by year-end. Beaumonts orthopedic surgeons, ranked among the best in the country, are doing their lucrative joint replacement surgeries at area ambulatory centers. His chief marketing officer resigned last September, his CFO quit in March, his chief compliance officer left a few weeks ago, and his chief revenue officer is out the door in a few days. A traditional Bachelor of Science degree in nursing is typically four years. In quickly reviewing Spectrums website and news releases, I can't find evidence that Freese Decker has expressed the belief that Spectrum needed to achieve considerable size to survive and remain competitive. To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. Bloomberg on Wednesday posted an editorial warning about the growing merger trend among hospitals, noting that it leads to higher insurance prices. Nurses employed by staffing agencies are paid more than staff nurses performing the same functions. One need only look at Beaumont, an amalgamation of the Beaumont Health System, Royal Oak, Oakwood Healthcare, Dearborn, and Botsford Health Care in Farmington Hills that was created in 2014. John Kerndl, who joined Beaumont in 2016, quit in March. The good news is that Beaumont isnt overrun with critically ill Covid patients, which suggests that vaccines are doing what they were intended to do: Prevent people who contract the disease from becoming critically ill and dying. Starkman: Prominent Beaumont Cardiologist Calls for Ouster of Corporate Leaders, The Clueless Generosity of Beaumont CEO John Fox, Beaumont's Bonuses and the Sorry State of Michigan's Political Leadership, The Controversial Company Beaumont CEO John Fox Keeps, Beaumont Chief John Fox to Detroit-Area Children -- FU Too, 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. Spectrums board is certainly a lot tougher on compensation. Its a standard practice when companies of near comparable size combine: The company whose CEO is tapped to lead the mergedcompany agrees to have the chairman of the partner company serve as chair. Fox isnt the only hospital executive looking to exploit the perception that the unvaccinated are responsible for wreaking havoc. As one source commented: Why doesnt the board just give Fox $25 million to go away?. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved. Spectrums prices are higher than Beaumonts, as the hospital network has significantly less competition in western Michigan. Hes even willing to exploit the publics fear of Covid to distract from his own mismanagement. By Eric Starkman During the Covid pandemic, a hospital's safety practices are more. Spectrum CEO Tina Freese Decker will lead the combined company. The combined Spectrum and Beaumont operations will temporarily be called BHSH System. When the Advocate Aurora deal was announced, Beaumont had a $2.5 billion cash reserve, so Advocate Aurora was essentially committing $1 billion, while retaining $1.5 billion. The FTC has a backlog of merger applications, and it could take months before it decides on the Spectrum/Beaumont deal. Despite Freeds damning allegations, Beaumont spokesman Mark Geary ignored a request for comment. ", a month membership or a one-time donation, Beaumont Health's Merger Partner Reveals its Disingenuous, Deceptive and Disrespectful Nature, Spectrum Healths Black Employees Explore Class Action Lawsuit Alleging Systemic Racism, Beware! The silence is understandable. Freed doesnt disclose his hunch about Beaumonts financials, which received less oversight than he possibly knows. It marks the passing of a once great hospital system, and the creation of a giant Michigan hospital network Spectrums former CFO Michael Freed has warned could result in a , Spectrum Moves Forward with Beaumont Takeover, Beaumont Expects Imminent FTC Approval For Spectrum Takeover Of Its Faltering Hospital System, Good News From Beaumont Hospital Network To Spend 'Significant Dollars' to Expand Private Room Capacity, Beaumont Foxs Thanks to Hospital Docs: Let Them Eat A Cookie., Beaumont Faces Threat of Nurse Anesthetists Strike Over Declining Patient Safety Standards, Bad News for Beaumont -- CEO John Fox Sticking Around Longer Than Expected, CEO John Foxs Michigan Legacy? 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. Starkman: Beaumont's FU to Metro Detroit and its Covid-19 Workers Tweet. And given the sorry state of Beaumont resulting from Foxs leadership, its an emergency rescue. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved. Fortunately, Freese Deckers western Michigan businesses were healthy enough to allow Spectrum to eke out an operating profit of $119.7 million despite Beaumonts losses. Reach Eric Starkman at: eric@starkmanapproved.com. That's bad news for Metro Detroit's biggest hospital . Beaumont CEO John Fox . Susick fired Royal Oaks highly regarded and very much beloved head of pediatrics after he protested budget cuts that he argued would harm patient care. A Grand Rapids television station revealed that operating room OBGYN doctors were posting photos on social media of them holding up surgically removed organ and tissue material as part of a game they likened to The Price Is Right. The report by NBC affiliate WOODis a classic worth watching because the reporter cant believe what shes actually reporting. How Absurd. It isnt clear from Beaumonts stats that the hospitals Covid patients were admitted because of the disease or possibly some other serious ailments. Beaumont Dearborn also is receiving military assistance to help the hospital manage its Covid patient load. Seven Failed Beaumont Directors Will Serve on Board If Spectrum Merger Gets Approval, 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, 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. Beaumont Royal Oak nurses must sometimes tend to as many as seven at a time. Fox is about 70, and given his failed performance, it was a given that he wouldn't lead the combined Spectrum Beaumont entity. 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. To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. To support Deadline Detroit's independent. I dont know how we could handle a catastrophe, said a source at Royal Oaks ER. The terms of the deal were so obscenely favorable to Advocate Aurora that Rep. Andy Levin, whose district includes Beaumont Royal Oak, announced he would oppose the deal. That leaves the hospital with just two cardiothoracic surgeons, down from nine years ago. Funny we only now are learning just how badly Fox ran Beaumont into the ground. Beaumont Troy is a Level II and must also be prepared to handle a wide range of emergencies. The American Hospital Association (AHA), the trade group focused on promoting the financial interests of nonprofit hospitals and their managements, is a major lobbying force in Washington. Instead, they allowed Spectrum to acquire Beaumont, creating Michigans biggest hospital system, as well as the states biggest employer. What, if any, role Wilson will play after the merger hasnt been disclosed. 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. The joint release promotes the benefits of Priority Health, Spectrums insurance plan. Beaumont does not have a good reputation regarding how they treat employees. The writer, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. Spectrumreportedthat Beaumonts operations already have racked up nearly $100 million in losses. Israel relies nearly 100 percent on Pfizer vaccines, while the U.S. also has a prevalence of Moderna and J&J vaccines. 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. Spectrum CEO Tina Freese Decker obviously believes the Beaumont merger is already a done deal. Even Beaumont employees suffering from myopia can read this writing . Spectrum also is comfortable issuing misleading or deceptive statements, so culturally Beaumont is possibly a great fit. Maybe they dont teach this at the University of Iowa from where Freese Decker received her Master of Health Administration, but when a hospital spends nearly $2 million as John Fox did to intimidate nurses at his flagship Royal Oak hospital and derailed a unionizing attempt, it creates bad blood. Whats notable about Foxs disclosure is the seeming priorities of Spectrum compared to Advocate Aurora, the Chicago-based hospital system that Fox tried to give Beaumont away to in June 2020 under terms so obscenely favorable to Advocate Aurora, he couldnt pull it off. 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. Michigan Gov. According to the most recently available filings, Freese Decker earned $3.9 million in 2018. Corewell Health has appointed Dr. Daniel Carey as the new president for its Beaumont Hospital campus in Royal Oak. 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