One of the largest nursing home chains in the U.S., HCR ManorCare Inc. has filed for bankruptcy protection on March 4, 2018 in the Bankruptcy Court in Wilmington, Delaware. Quality Care Properties Inc., HCR’s landlord, will take control of the company.
The private-equity firm Carlyle Group owns HCR ManorCare Inc. The departing CEO, Paul Ormond received $115 million in deferred compensation and severance even though HCR is approximately $230 million in debt. Continue reading
Old Woman Dozing (1656)
By Nicolaes Maes Photo: Wikipedia
I never know what to expect on my weekly visits to the nursing home. The lobby has an occasional patient wheeling herself or pushed by a family member for a stroll around the property. There is a small park in the back with winding paths cracked here and there by the growing roots. Majestic trees surround the grounds. Continue reading
As if health care was not undergoing enough fundamental transformation in this country, Democrats are now attacking the profits that hospitals and doctors make in the delivery of their services. Why should doctors and hospitals make obscene profits or any profits at all? An article in The New York Times, “Health Care and Profits, a Poor Mix,” by Eduardo Porter, claims that nonprofits (hospitals and clinics) deliver better care. (http://www.nytimes.com/2013/01/09/business/health-care-and-pursuit-of-profit-make-a-poor-mix.html?pagewanted=all&_r=0)