JFK Medical Center is looking to expand.Solaris Health System, which runs both facilities, has requested a $169 million bond issue to pay for expansion and renovations at JFK and refinance the debt of the two hospitals. $22.2 million would be for capital improvements The largest chunk of capital improvement money would pay for 59 additional inpatient beds at JFK as the Edison hospital tries to fill some of the gap that will be created by Muhlenberg's closure. JFK currently has 399 beds not all are staffed.The plan also calls for expanding the emergency room, renovating the cardiac catheterization lab and renovating the hyperbaric wound center.
(Adding more beds at JFK! I thought that MRMC was closed because there was an overabundance of beds in the JFK/MRMC service area. JFK currently has 399 beds. and I was told that several units had been closed.)
Meanwhile, a portion of the bond money would go toward expanding some areas at Muhlenberg for medical staff offices and support services.
"There's still a significant health care footprint over there (at Muhlenberg)," said Steven Weiss, spokesman for Solaris. "There are a number of outpatient services."
There is no question this extended community has received a royal fornication. Why is our local government showing no evidence of trying to fight back. We need Plan X
I also have trouble with corporate finances. For an entity that was on the verge of filing bankruptcy (Howard) in this economy who will back its bonds? I bet it is us taxpayers. Of course eliminating a 17 million dollar annual loss at Muhlenberg while all other Solaris enterrises are being profitable would make Solaris a good risk. Is it possible tha MRMC was being charged for expenses that belonged to other entities operations? Who has audited the books? Corzine?
Solaris threatening bankrupty was a smoke and mirrors tactic. Here is the link to John Gostel's excellent editorial:
ReplyDeletehttp://www.mycentraljersey.com/apps/pbcs.dll/article?AID=2008808030364
John wrote:
"Solaris used bankruptcy as a threat to force local and state politicians to approve the closing of Muhlenberg. Solaris will have difficulty meeting the definition of bankruptcy, since they have $85 million in net assets as of Dec. 31, 2007. Net assets can be defined as total assets minus liabilities."
And Solaris can "expand" all they want, there are still plenty of us that will not go there. So large is the number that I found out from a very reliable source that this is very concerning for Solaris' officials. They obviously underestimated the community desire and "assumed" that JFK would be the "next logical stop" instead of Overlook, SMC, St. Peter's or both RWJ's. If this continues, they most likely will not be able to prove financial need for expansion and may not get those desired bonds. They are already in over their heads as they overextended themselves in preparation for "the great flood".
Talk about the classic "counting the chickens before they hatch".
We're still fighting to get our beloved Muhlenberg back and will do whatever it takes.
All the best and keep up the great work Doc!
Aminara