U of Miami hospitals

[UMJer026]

Everything Lu said, and they should've just bought Doctor's Hospital.

 

[SpikeUM]

As someone above wrote, she way overpaid, over strong objections from several BOT members, to the point of At least one well known BOT member resigning over the purchase.

 

[Calinative]

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.

literally the only thing I said was that she had to have BOT support. maybe not full support. Maybe not the majority. But she clearly had to have a lot of support or it wouldn't have happened. And that is just a fact. The BOT has more power than the President. As for the Numbers I list, that was literally just so everyone could see how the basic financials have been doing the past few years and how important the medical stuff is for this school (half all revenue)

 

[Sigma_Cane_7]

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.

Might be one of the more intelligent posts. This is a good thread. [MENTION=3]LuCane[/MENTION] are you in the medical field by chance?


Sent from my iPhone using Tapatalk

 

[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.

Might be one of the more intelligent posts. This is a good thread. @LuCane are you in the medical field by chance?


Sent from my iPhone using Tapatalk

Depends how you define it. For the better part of a decade, I worked for a large provider. I left to build education/talent technology (healthcare being one targeted vertical). I'm still active in the health community, but it's not my entire focus anymore. You?

 

[Sigma_Cane_7]

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.

Might be one of the more intelligent posts. This is a good thread. @LuCane are you in the medical field by chance?


Sent from my iPhone using Tapatalk

Depends how you define it. For the better part of a decade, I worked for a large provider. I left to build education/talent technology (healthcare being one targeted vertical). I'm still active in the health community, but it's not my entire focus anymore. You?

Being in warehouse distribution my career. All food and beverage. From Beer to Meat. My wife on the other hand is a pharmacist for a hospital network as well as dwelled in independent for a while. But a lot of what you are saying my wife and I discussed a lot of what you mentioned on the out patient platform replacing the large platform UM strived for. Also the personal care with the population that can get out to the big chains for their medicine. At mail medicine is booming as well.


Sent from my iPhone using Tapatalk

 

[BigCaneAl]

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.

Biggest problem going forward is competing in that rapidly changing environment with a slow moving academic model that is held hostage by low producing high paid tenured faculty who actively undermine the system.

 

[Bunker Mentality]

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

All Presidents clean house. Especially when the Med School was the prime reason Frenk was brought in and he's a physician. He has his own people in the healthcare field going back decades. Pascal is a good man, did what he was told to do, and didn't pander to the racist, entitled social networks at the medical school.

His integrity is beyond reproach.

 

[Bunker Mentality]

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.

Add to this that Mount Sinai was on the table as well. The prevailing thought however, at least at the medical school, was that []_[] just invested in the Clinical Research Building (CRB), had a strong brand at Sylvester, Bascom Palmer, Ryder, and had a tremendous clinical footprint at Jackson Memorial that made the concept of 2 separate medical campuses (one without great public transport) unattractive..

Knowing the future of the Bio-Tech Park just west of I-95 and preferring to centralize UHealth/Miller School of Medicine, we decided to buy a logistically convenient Cedars instead of pursuing a posh Miami Beach Bayfront health complex.. As stated above, we didn't anticipate the competitive aspect well enough and there were other timing issues.

I think Mount Sinai was the ideal, but I think the number I heard was $600 mill. We could have had a location and medical campus that matched the elite private brand of the []_[] while maintaining the public level of care without being across the street and competing. Doctors Hospital should have been snatched up as well; just to keep the enemies like Baptist out of your back yard..

Leonard Miller's family donated $150 million to the Medical School and new campus health facility, so it wasn't money Shalala approved as much as it was already earmarked for that purpose.

She sold the old President's mansion too.. That was another thing that irked me because that was the first place I truly felt like a Hurricane.

Her tenure will be marked by bad real estate decisions but none of this was done in a vacuum.

 

[Canez1]

For those knocking what I posted, the statement was made in a news clip by Joshua Nemzoff who was referred to as a hospital realtor in the video. I can't find the video anywhere or even remember which outlet it came from. However, I was able to find somewhat similar comments by him.

"Joshua Nemzoff, a specialist in buying and selling hospitals, said he had considered bidding on Cedars for a client, but stopped when he heard the UM bid: “They paid three times what I thought that hospital was worth.” UM took out loans of $325 million to finance the purchase — debt the medical school is struggling to pay off." or "Others criticized the purchase price: $275 million. Joshua Nemzoff, a specialist in buying and selling hospitals, was stunned by the amount. “They paid three times what I thought that hospital was worth,” he said."

Also, I wasn't saying she took the money from our athletic program. I was simply stating that amount would have renovated the OB. I often forget some of you on here need explaining everything to you as you would to a 5 year old.

Thank you SpikeUM for providing additional insight.

 

[ben]

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.

Add to this that Mount Sinai was on the table as well. The prevailing thought however, at least at the medical school, was that []_[] just invested in the Clinical Research Building (CRB), had a strong brand at Sylvester, Bascom Palmer, Ryder, and had a tremendous clinical footprint at Jackson Memorial that made the concept of 2 separate medical campuses (one without great public transport) unattractive..

Knowing the future of the Bio-Tech Park just west of I-95 and preferring to centralize UHealth/Miller School of Medicine, we decided to buy a logistically convenient Cedars instead of pursuing a posh Miami Beach Bayfront health complex.. As stated above, we didn't anticipate the competitive aspect well enough and there were other timing issues.

I think Mount Sinai was the ideal, but I think the number I heard was $600 mill. We could have had a location and medical campus that matched the elite private brand of the []_[] while maintaining the public level of care without being across the street and competing. Doctors Hospital should have been snatched up as well; just to keep the enemies like Baptist out of your back yard..

Leonard Miller's family donated $150 million to the Medical School and new campus health facility, so it wasn't money Shalala approved as much as it was already earmarked for that purpose.

She sold the old President's mansion too.. That was another thing that irked me because that was the first place I truly felt like a Hurricane.

Her tenure will be marked by bad real estate decisions but none of this was done in a vacuum.

Isn't the new president mansion at four Philly farm with all the homes for the medical rock stars?

 

[Bunker Mentality]

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.

Add to this that Mount Sinai was on the table as well. The prevailing thought however, at least at the medical school, was that []_[] just invested in the Clinical Research Building (CRB), had a strong brand at Sylvester, Bascom Palmer, Ryder, and had a tremendous clinical footprint at Jackson Memorial that made the concept of 2 separate medical campuses (one without great public transport) unattractive..

Knowing the future of the Bio-Tech Park just west of I-95 and preferring to centralize UHealth/Miller School of Medicine, we decided to buy a logistically convenient Cedars instead of pursuing a posh Miami Beach Bayfront health complex.. As stated above, we didn't anticipate the competitive aspect well enough and there were other timing issues.

I think Mount Sinai was the ideal, but I think the number I heard was $600 mill. We could have had a location and medical campus that matched the elite private brand of the []_[] while maintaining the public level of care without being across the street and competing. Doctors Hospital should have been snatched up as well; just to keep the enemies like Baptist out of your back yard..

Leonard Miller's family donated $150 million to the Medical School and new campus health facility, so it wasn't money Shalala approved as much as it was already earmarked for that purpose.

She sold the old President's mansion too.. That was another thing that irked me because that was the first place I truly felt like a Hurricane.

Her tenure will be marked by bad real estate decisions but none of this was done in a vacuum.

Isn't the new president mansion at four Philly farm with all the homes for the medical rock stars?

yea.. TBH I haven't been there, but I can't image it would have the class and character of the old place. Donna threw some nice shindigs; she knew how to party.

 

[Bunker Mentality]

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.

Add to this that Mount Sinai was on the table as well. The prevailing thought however, at least at the medical school, was that []_[] just invested in the Clinical Research Building (CRB), had a strong brand at Sylvester, Bascom Palmer, Ryder, and had a tremendous clinical footprint at Jackson Memorial that made the concept of 2 separate medical campuses (one without great public transport) unattractive..

Knowing the future of the Bio-Tech Park just west of I-95 and preferring to centralize UHealth/Miller School of Medicine, we decided to buy a logistically convenient Cedars instead of pursuing a posh Miami Beach Bayfront health complex.. As stated above, we didn't anticipate the competitive aspect well enough and there were other timing issues.

I think Mount Sinai was the ideal, but I think the number I heard was $600 mill. We could have had a location and medical campus that matched the elite private brand of the []_[] while maintaining the public level of care without being across the street and competing. Doctors Hospital should have been snatched up as well; just to keep the enemies like Baptist out of your back yard..

Leonard Miller's family donated $150 million to the Medical School and new campus health facility, so it wasn't money Shalala approved as much as it was already earmarked for that purpose.

She sold the old President's mansion too.. That was another thing that irked me because that was the first place I truly felt like a Hurricane.

Her tenure will be marked by bad real estate decisions but none of this was done in a vacuum.

Isn't the new president mansion at four Philly farm with all the homes for the medical rock stars?

yea.. TBH I haven't been there, but I can't image it would have the class and character of the old place. Donna threw some nice shindigs; she knew how to party.

What a joke...

Smathers Four Fillies Farm - 11511 Red Road, Pinecrest, FL 33156

 

[OriginalCanesCanesCanes]

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.

What large footprints do you see either shrinking or becoming less effective? I'm not quite sure what you mean here.

There are certainly large footprints in the healthcare industry that benefit from economies of scale and operate more effectively . Depending on what you mean, I don't think large footprints ever go away.

 

[ben]

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.

Add to this that Mount Sinai was on the table as well. The prevailing thought however, at least at the medical school, was that []_[] just invested in the Clinical Research Building (CRB), had a strong brand at Sylvester, Bascom Palmer, Ryder, and had a tremendous clinical footprint at Jackson Memorial that made the concept of 2 separate medical campuses (one without great public transport) unattractive..

Knowing the future of the Bio-Tech Park just west of I-95 and preferring to centralize UHealth/Miller School of Medicine, we decided to buy a logistically convenient Cedars instead of pursuing a posh Miami Beach Bayfront health complex.. As stated above, we didn't anticipate the competitive aspect well enough and there were other timing issues.

I think Mount Sinai was the ideal, but I think the number I heard was $600 mill. We could have had a location and medical campus that matched the elite private brand of the []_[] while maintaining the public level of care without being across the street and competing. Doctors Hospital should have been snatched up as well; just to keep the enemies like Baptist out of your back yard..

Leonard Miller's family donated $150 million to the Medical School and new campus health facility, so it wasn't money Shalala approved as much as it was already earmarked for that purpose.

She sold the old President's mansion too.. That was another thing that irked me because that was the first place I truly felt like a Hurricane.

Her tenure will be marked by bad real estate decisions but none of this was done in a vacuum.

Isn't the new president mansion at four Philly farm with all the homes for the medical rock stars?

yea.. TBH I haven't been there, but I can't image it would have the class and character of the old place. Donna threw some nice shindigs; she knew how to party.

I do remember how they used to hold that opening event for freshmen there, catered by chicken kitchen. I think a lot of UM students decided then and there never to return to the northeast/Midwest.

 

[Cane Dynasty]

How much were they charging for pap smear's?

 

[Canedude08]

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.

I want to hear what Shalala should have done in regards to the OB. The City had NO INTEREST in fixing up the facility, and they intentionally gave Miami a **** offer, knowing we'd turn it down. Once Loria and his goons decided that they wanted their stadium there, the University of Miami was utterly screwed. There isn't nearly enough pressure that can brought to bear by the University to overcome MLB and the idiots who think that having a team is some kind of economic boon.

 

[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.

What large footprints do you see either shrinking or becoming less effective? I'm not quite sure what you mean here.

There are certainly large footprints in the healthcare industry that benefit from economies of scale and operate more effectively . Depending on what you mean, I don't think large footprints ever go away.

By footprint, I meant physical space/building. It's early, but already becoming less important.

 

[Waffle Honcho]

For those knocking what I posted, the statement was made in a news clip by Joshua Nemzoff who was referred to as a hospital realtor in the video. I can't find the video anywhere or even remember which outlet it came from. However, I was able to find somewhat similar comments by him.

"Joshua Nemzoff, a specialist in buying and selling hospitals, said he had considered bidding on Cedars for a client, but stopped when he heard the UM bid: “They paid three times what I thought that hospital was worth.” UM took out loans of $325 million to finance the purchase — debt the medical school is struggling to pay off." or "Others criticized the purchase price: $275 million. Joshua Nemzoff, a specialist in buying and selling hospitals, was stunned by the amount. “They paid three times what I thought that hospital was worth,” he said."

Also, I wasn't saying she took the money from our athletic program. I was simply stating that amount would have renovated the OB. I often forget some of you on here need explaining everything to you as you would to a 5 year old.

Thank you SpikeUM for providing additional insight.

Or you could proofread. Or just blame others for not reading your mind, whatever's simplest for you.

 

[Pete]

Thanks for your comments on the U of Miami Hospital System.Several of you
make the comment that the Prez then way over paid for hospitals she bought.
Only comment I would make on that is that was the asking price.We can debate
that all day,but the first question by any buyer "What am I getting for my money?"
Building,land,staff,equipment,non compete clause,clients,etc.would all or some
would enter into the price.