Wouldn’t this have to be sabotage since it’s not sustainable long term? I understand the quarterly greeds doing their thing, but this isn’t sustainable.
Glenwood is just one of nearly 400 health care facilities owned by MPT and rented out to hospital chains. Nine companies that leased hospitals from MPT have gone bankrupt—including Steward, Glenwood’s former operator. And while dozens of hospitals have been sold, entangled in bankruptcy proceedings, or become depleted shells, MPT’s top brass has earned millions.
Vulture capitalism. They don’t need to make it profitable long term, they just need to gut everything to squeeze as much profit out as they can short term. Raise prices, lower standards, cut staff, run the company into the ground and then repeat with the next one.
This article is laying the blame on the landlord (who may very well be part of the problem), but the hospital was totally mismanaged by a group of scumbags.
I have a good amount of second hand experience with hospital management and system level stuff. You would be absolutely floored to hear the kind of absolute insane decision-making that goes on in these places. They have absolutely no plan, and most of them are just trying to keep their jobs for a few years until they find another one because they are not qualified and everyone gets hired because of who they know and not how qualified they are.
