KKR’s Envision Weighs Handing Control to Creditors in a Bankruptcy

[DocEspana]

Unless you're 1099. Then you actually are a creditors.

This. came here to point this out

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[emergentmd]

Unless you're 1099. Then you actually are a creditors.

If you are on salary, other than the last 2 wks of pay, there really isn't much debt owed.

 

[sloh]

Yawn.

The goal of Chapter 11 is to help businesses emerge from bankruptcy with a viable plan for the future. This may involve reducing debt, renegotiating contracts, selling assets, or other measures to improve the company's financial position.

They sure have no asset. They sure will not be increasing income from carriers. So if they have no asset to sell. Can't increase income. What is there left to do?

1. reduce/cancel debt - Hey dumb hedge fund/VC, we got nothing. You either restructure and we may pay you 10cents on the dollar or we cancelling it all. We have no assets so really there is no meat on the bone
2. Renegotiate contracts - Drop bad contracts, keep good contracts. Most MDs will not have a drop in income b/c you have a contract they are obligated to pay. YOU are an employee and NOT a creditor. Your current TH overlord will likely drop some bad contracts and you will have a new overlord.

How often are contracts renewed? Possible that the new contract pays less and is take it or leave it right?

 

[Restart13]

2. Renegotiate contracts - Drop bad contracts, keep good contracts. Most MDs will not have a drop in income b/c you have a contract they are obligated to pay. YOU are an employee and NOT a creditor. Your current TH overlord will likely drop some bad contracts and you will have a new overlord.

Unless some hospitals close, I would argue that it brings the hospitals back to the table and force them to offer a subsidy to an ER group to staff it. Our SDG has subsidies, however every year they are increasingly at risk.

 

[TooMuchResearch]

High-revenue ortho/cards/neurosurgeons can't operate without an anesthesiologist, but the caveman meatgrinder "life savers" are just pushin' pills and admittin' slugs for nursing home placement.

Dude. Why didn't you write this response before I picked a specialty?