U of Miami hospitals

[Pete]

We were over to to U of Miami hospital earlier in the week.Mentioning this
because frequent accusation is that Shalala drained off monies from the
athletic dept.to build up healthcare facilities.
Question how did the U acquire all those facilities which are impressive?

 

[Canez1]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

 

[BALLHAWKU]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

Oh she needs to be investigated that is for sure . FBI should investigated her in nevin scheme she's dirty

 

[Canez1]

Fitting she is a part of the Clinton machine. Had a good laugh election night when they mentioned her leaving early.

 

[cane305]

lol

 

[ben]

Frenk pushing Pascal Goldschmidt to retirement tells you all you need to know

 

[jevoasis]

The Law school has been a mess for a while too

 

[CaneToad]

Maybe it went to the Clinton Foundation

 

[Gatorhater]

We were over to to U of Miami hospital earlier in the week.Mentioning this
because frequent accusation is that Shalala drained off monies from the
athletic dept.to build up healthcare facilities.
Question how did the U acquire all those facilities which are impressive?

I spend my days doing M&A for one of the largest companies in the world. It is simple, she way overpaid for them. Horrible deals. If she isn't a crook and didn't get huge kickbacks, then she is stupid beyond belief. The third possibility is some sort of pure political agenda.

 

[deleted5896]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

Was the $50M inclusive of debt?

 

[Fluffhead]

We were over to to U of Miami hospital earlier in the week.Mentioning this
because frequent accusation is that Shalala drained off monies from the
athletic dept.to build up healthcare facilities.
Question how did the U acquire all those facilities which are impressive?

I spend my days doing M&A for one of the largest companies in the world. It is simple, she way overpaid for them. Horrible deals. If she isn't a crook and didn't get huge kickbacks, then she is stupid beyond belief. The third possibility is some sort of pure political agenda.

You never want to do business with HCA.

 

[Canesfan3234]

there is a reason she suddenly decided to retire. BoD told her to GTFO after an internal audit showed that she had wasted a 1.7 billion dollar endowment by hiring her friends to do a bunch of boondoggle projects that went way over budget. I was told that the accountants said something like 60ish% of the money was frivolously wasted.

 

[ssvir]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

There is so much stupid in this post.

You really think UM's BOT approved a $150M purchase for a $50M asset and those funds would/could have been used for the OB?

How many flying saucers have you called 911 about this month?

 

[calinative umstudent]

Yeah Gotta say, no way the President unilaterally approves spending hundreds of millions without support of BOT. Thats just ridiculous.

according to bizjournal:

2016: -69.5M net income on 2.86B in total revenue
2015: +77.2M net income on 2.71B in total revenue
2014: +180.5M net income on 2.58B in total revenue
2013: +220M net income on 2.52B in total revenue

But all the medical stuff we own accounts for over half of all revenue the school makes every year. like $1.5B out of $2.8B total revenue this year.

But profits on the hospitals we own have been increasing a lot probably due to ObamaCare.

 

[Fluffhead]

Yeah Gotta say, no way the President unilaterally approves spending hundreds of millions without support of BOT. Thats just ridiculous.

according to bizjournal:

2016: -69.5M net income on 2.86B in total revenue
2015: +77.2M net income on 2.71B in total revenue
2014: +180.5M net income on 2.58B in total revenue
2013: +220M net income on 2.52B in total revenue

But all the medical stuff we own accounts for over half of all revenue the school makes every year. like $1.5B out of $2.8B total revenue this year.

But profits on the hospitals we own have been increasing a lot probably due to ObamaCare.

This is a very, very simplified view on what happened. At the core of the issue was that Miami essentially bought the UHealth facility which functioned as a direct competitor to Jackson, where the med school is located. Goldschmidt, who similarly got chased out after the faculty walked out on his state of the facility address, essentially had the physicians sending patients who are better insurance cases/more fees to UHealth, which killed the revenues for Jackson, the largest NFP hospital in Miami-Dade county. It also strained the relationship between the school/med school and Jackson. With that being said, the timing also could not have been worse for this type of a purchase (right before the recession).

Also, you are extremely naive if you do not think that there were certain key members of the board who would go right along with this plan to expand the health system. Not to say that it was going to the football program (it was not, which is more naive), but this was not a check and balances system here.

 

[kryptonite]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

Oh she needs to be investigated that is for sure . FBI should investigated her in nevin scheme she's dirty

Yes dredging that back up and getting the FBI involved is exactly what we need.

 

[ssvir]

Yeah Gotta say, no way the President unilaterally approves spending hundreds of millions without support of BOT. Thats just ridiculous.

according to bizjournal:

2016: -69.5M net income on 2.86B in total revenue
2015: +77.2M net income on 2.71B in total revenue
2014: +180.5M net income on 2.58B in total revenue
2013: +220M net income on 2.52B in total revenue

But all the medical stuff we own accounts for over half of all revenue the school makes every year. like $1.5B out of $2.8B total revenue this year.

But profits on the hospitals we own have been increasing a lot probably due to ObamaCare.

The important numbers are revenues and CASH FLOW.

Net income includes depreciation, taxes, interest expense, etc.

This also doesn't account for any of the intrinsic benefits to the school like higher quality faculty, larger research grants, larger donations, the biotech campus, etc which obviously have no correlation to the net income number.

 

[ILCane2011]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

This is so ridiculous I don't even know where to start.

You think UM overbid by $150 million and the BOT just signed off on it? How do you know what the "realtor" (lol) was expecting? That money was for the OB? Seriously? $0 UM has spent on hospitals have been earmarked for athletics.

Shalala made a terrible decision on the OB. Buying Cedars was also a dumb decision and I'm glad she's gone. But enough with the tinfoil hat theories or at least take that **** to WEZ.

Shalala raised a ton of money for the medical campus (and spent it poorly). She neglected to do any fundraising pushes for football, which is what should matter here.

 

[ILCane2011]

The thing I always wanted investigated is the realtor was expecting an offer of around 50 million and Donna threw over 200 million at them. There was something dirty there. That was the money for the OB and somebody got paid.

Oh she needs to be investigated that is for sure . FBI should investigated her in nevin scheme she's dirty

Yeah we really want the Nevin thing re-opened and looked into more.

That will definitely help with recruiting.

Good call dude

 

[LuCane]

The biggest problem with the play was arrogance. I don't think anyone doubts UM initially overpaid for Cedars. They seemingly intended to be the sole benefactor of building out a health district around the Civic Center. UM figured it could hold Jackson hostage (while allegedly funneling paying patients). Well, it did ok early on, but was strongly checked with JHS' new administration. When the Annual Operating Agreement between Jackson and UM suddenly changed tone, the dominance play was in jeopardy. UM and Jackson are kinda sorta trying to play nicer now.

The problem is healthcare will continuously change over the next 10 years to rely less and less on such large footprints. They can begin to try to fix that through urgent care centers and the like, but it's too late. The oddly sad part is they had an incredible head start on something like telemedicine in-house and didn't throw sufficient resources behind it. Now, there are multiple billion dollar businesses in the space zooming by them. Bad business vision with poor execution. Kinda like our athletic program over the last 15 years.