Hard agree, and not just because I'm a spreadsheet nerd. Why are we all here? Isn't it in the service…
Morning Headlines 3/20/20
Hospitals ask for $100 billion coronavirus bailout
The American Hospital Association, American Medical Association, and American Nurses Association ask the federal government for $100 billion to offset COVID-19 diagnosis and treatment.
Ransomware Gangs to Stop Attacking Health Orgs During Pandemic
Several ransomware hacker groups say they will refrain from attacking healthcare organizations during the pandemic.
Surge in patients overwhelms telehealth services amid coronavirus pandemic
Telehealth services are being overwhelmed with a surge in patients that is stressing their technology and their supply of physicians.
Local medical tech startup shuts down operations
Medical credentialing-as-a-service startup MedSpoke closes, citing recent changes to its client base.
I’ll be the first to say that the Coronavirus pandemic has put a huge strain on our healthcare system. But we have processes and policies in place to address the need costs associated with taking care of patients, who are not insured. Most insurances will already cover costs for those patients insured at the levels of each patients policies. But like the airline industry how did the hospitals come up with the $100B bailout figure. I just find it amazing that the norm for business challenged by catastrophic events is to expect the government to bail them out.
I’m not an ultraconservative who doesn’t believe in working with industries or specific groups to address the needs of society to address issues such as Coronavirus. But I don’t believe that any industry or vertical deserves a blank check. The financial issues the healthcare system is facing has been brought on by multiple factors that were not addressed as they should be. Rather than invest in infrastructures, such as ventilators many health have spent billions on building shiny new towers and patient pavillions that mirror malls versus care delivery. I just not picking on healthcare the airline industry who has seen unprecedented profits the last decade with deregulation and charging passengers for every little item does not deserve a $53B bailout. Any company should be able to fail. Another will rise to fill its gap if one exists. That’s capitalism. So the government is looking at equity stakes in airlines, the very issue that many of the US carriers have been so critical of foreign airlines that are sponsored by their respective governments.
I’m just saying any monies that are part of any bailout are monies we as a country do not have and will be required to go borrow. That’s right the $1T Bailout is national debt! Debt our children and grandchildren will have to pay back and will put them further behind in their ability to have better lives than generations making those decisions. Just saying!!
Any bailout money should result in the public at least having some amount of private equity ownership of the recipient in question, and any dividends from that equity ownership also being returned to public. And if the company eventually wants out of that arrangement once they are whole, they can buy back their stock from the public instead of from their executives.