volvulus

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There are rumors that Temple is currently in negotiations to buy the now vacant MCP hospital and possibly Hahneman hospital from Tenet. What I heard was that Temple is mostly interested in buying MCP and converting it into a outpatient center or a rehab hospital. Does anyone have more info?
 

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Originally posted by volvulus
There are rumors that Temple is currently in negotiations to buy the now vacant MCP hospital and possibly Hahneman hospital from Tenet. What I heard was that Temple is mostly interested in buying MCP and converting it into a outpatient center or a rehab hospital. Does anyone have more info?

I know that I am admittedly out of the loop at my school and all, but this is the first I am hearing about it.
 
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Several news agencies have stated that Temple has expressed a mild degree of interest to Gov. Rendell with regards to buying MCP, there has been no mention of Hahneman from what Ive heard.

"interest" and "TEMPLE TO BUY MCP" are two totally different things though, and I think the subject of this thread is entirely too bold. Esp. when several other schools and hospitals in the area, Drexel included, are considering the same scenario.

I don't see it happening.
 

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Here read this about drexels plan on buying the hospital that it currently uses

Posted on Tue, Feb. 24, 2004





Drexel looking at MCP purchase

The university medical college hired consultants to study a possible takeover, becoming the third potential bidder.

By Karl Stark

Inquirer Staff Writer


A third potential buyer is looking at MCP Hospital.

The Drexel University College of Medicine said it had hired a consulting firm to investigate the possibility of taking over MCP Hospital.

"We're seriously looking at the site and trying to make a determination of what Drexel could do with it," Linda Roth, a medical school spokeswoman, said. "That would keep our faculty employed, it would serve as a resource for our students and our residents, and serve the community. If it can be a win-win [situation], we'd be interested."

In a related development, Common Pleas Court Judge Matthew D. Carrafiello largely backed out of the case over the hospital's future yesterday, citing the out-of-court accord reached last week between MCP's owner, Tenet Healthcare Corp., and the Pennsylvania Department of Health that would keep the hospital open for an additional three months. But Carrafiello left open the possibility that he could play a role later.

Drexel's effort comes after two other health systems have also expressed interest in MCP. The Temple University Health System has assigned a team of executives to see if MCP can work as a stripped-down institution with an emergency room, surgical suites, doctors offices, and a small number of beds.

The state has also asked the Albert Einstein Healthcare Network to look at taking over MCP.

Susan Anderson, who is heading the governor's effort on MCP, called Temple's plan "the only concrete thing we have on paper from anybody."

Drexel already uses MCP as a major teaching site, and it employs about 150 full-time and part-time professors, along with 200 residents and about 40 medical students at any one time. Many are anxious about where their training will occur in the coming months.

Anderson said Drexel had told the Governor's Office that it had retained a consultant to study the possibilities at MCP. "I have actually been amazed that they haven't done more since it was all of their doctors who are at [MCP Hospital]," she said.

Nancy Pickering, a cardiologist who is leading the effort to save the hospital, expressed some satisfaction that the hospital might have options.

"This shows that MCP does have value," Pickering said.

Philip Mead, president of the MCP medical staff, said the move could be sound, especially since many observers wonder if Tenet will stay in the brutally competitive Philadelphia market long-term.

"Theoretically, [a Drexel offer] makes all the sense in the world, and I wondered why they weren't considering it because their medical school is practically right across the street in Queen Lane," Mead said. "If Tenet pulls out of the market, Drexel is crazy if they don't have a hospital."

Meanwhile, at City Hall yesterday, Carrafiello dismissed the request for an injunction by the Association to Save MCP, citing the accord between Tenet and the state. The agreement echoed the language of his earlier order keeping the hospital open, Carrafiello said.

At the same time, the judge said he was keeping the case alive, and he said the parties could return to court if they felt it necessary.

Both sides praised the decision, saying it was a natural response to the accord announced Friday by Gov. Rendell. Tenet agreed to keep MCP open until June 30 in the face of a threatened state Health Department lawsuit. The company also promised to keep MCP operating at the same level of service.

MCP had 60 patients on Sunday, a spokeswoman said.

Gerard Schrom, an attorney for the Association to Save MCP, said the case would "move from the courtroom to the boardroom" to see if a buyer could be found.

Larry Ceisler, a public relations executive representing Tenet, called the judge's actions wise, and said: "Tenet is going to do everything in their power to make sure there is access to health care in this area."

Some movement is already being felt. Employees at the Eastern Pennsylvania Psychiatric Institute, which is part of MCP, had been told in writing that they would lose their jobs on March 31. But those letters are being rescinded, spokeswoman Maria Iaquinto said. The workers will keep their jobs until MCP closes or the psychiatric department makes an expected deal to merge with Friends Hospital in the Northeast, Iaquinto said.


The dean of my school has been talking alot about what they are thinking about doing with drexel
 

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I wouldn't get too excited yet (whether you are Drexel or Temple)

The reason why Tenet wants to close MCP is due to money - MCP is a sinking ship.

Now you can buy MCP and turn it into something else (rehab, outpatient, etc) - but that need for surgery/emergency care/medical care will still be there - and the people will still be uninsured (or on medicare) - and will likely seek these care at Temple Health System, or Jefferson health system, or Penn health system.

Does Drexel want to start a health system - with all the complex paperworks, financial risks/rewards, etc. I don't know about Temple or Jefferson health system, but Penn's health system, although relatively stable now, have been a major money loser for the school for a while now (and one of the reasons why its bond rating is slightly low)

Although if done right MCP can become a cash cow for whatever system ends up buying it - but in the philly market with high malpractice premiums, high percentage of uninsured patients, a duopoly insurances system (Blue Cross and Aetna), and competing health systems (Penn, Jefferson, Temple) - it will be a tough road to nagivate

Group_theory

Just stating the obvious
 

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I hope jefferson doesn't buy it, I don't want to do rotations over there.. :p
 
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