Not for profit is a bit of a misnomer.

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Jan 24, 2018
4:14:03pm

mik3 All-American

Not for profit is a bit of a misnomer.

It means they can't disburse monies from their operations to shareholders, not that they provide their services at cost.

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mik3

Previous username: mjo
New username: Dani Rojas
Bio page: mik3
Joined: Aug 14, 2008
Last login: Jan 5, 2021
Total posts: 0 (0 FO)

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Messages

Author

Time

IHC outsourcing 2,300 jobs. Idly curious if this is a good or bad thing.

kccougar All-American

1/24/18 3:43pm

<< Deleted >>

cougfanz

1/24/18 3:45pm

Except they are a not for profit

1/24/18 3:48pm

They are a "non-profit" that will come after you for every last penny

oohYeah

1/24/18 3:56pm

They are much better than many other hospitals.

spugeddy24

1/24/18 4:48pm

They average about $450M net "profit" each year.

Napoli

1/24/18 4:09pm

How do they maintain their non-profit status if that is true?

Indy Coug

1/24/18 4:10pm

Not sure but I have reviewed their financial statements over the last 10 years

Napoli

1/24/18 4:11pm

because they can go back and restate financals, pay out huge bonuses for past

Nat Gas Man

1/24/18 4:43pm

They are building a major new hospital in the Kaysville/Layton area

spugeddy24

1/24/18 4:57pm

operating revenue

claw

1/24/18 6:09pm

Not for profit is a bit of a misnomer.

mik3

1/24/18 4:14pm

They're currently expanding all of their hospitals, so I'm sure they're up to

UberDeek

1/24/18 4:33pm

Save $70M? Maybe to that portion of the P&L

BlackBart

1/24/18 3:46pm

it's not really all that hard to save $70M on that size of company. I did a

Nat Gas Man

1/24/18 4:45pm

So they aren't eliminating any workers, keeping the same pay and saving $23M a year?

Indy Coug

1/24/18 3:47pm

R1 isn't going to charge IHC a markup on those costs? Surely not...

BlackBart

1/24/18 3:54pm

They have to have some sort of margin, otherwise why acquire their work force?

Indy Coug

1/24/18 3:58pm

I was just being sarcastic...

BlackBart

1/24/18 5:06pm

Yup. Something has got to give.

1/24/18 3:55pm

Sounds like they lose all benefits save that required by.obamacare

Bert609

1/24/18 3:59pm

IHC won't be paying benefits for those employees.

mightybrick

1/24/18 4:51pm

I understand that, but there's still a big gap coming from somewhere to yield the cost savings to IHC

Indy Coug

1/24/18 9:14pm

Work with a lot of people in that division ... interested to see how plays out

DC12

1/24/18 3:48pm

IHC is also in talks with three other major hospital groups to start their own

Spocougar

1/24/18 3:56pm

This coming a year after they got rid of most of their IT department

Hypnotoad

1/24/18 3:59pm

Not fully true, they got rid of the developers a year ago

BlueBlood

1/24/18 4:02pm

I predict they will regret it some time down the road.

Hypnotoad

1/24/18 4:06pm

They have sold their soul, they aren't the same company they were even 2 years ago

BlueBlood

1/24/18 4:09pm

Amen

DryFlyUte

1/24/18 7:13pm

<< Deleted >>

mightybrick

1/24/18 4:52pm

Their IT dept brought on their own demise

cougfanz

1/24/18 5:05pm

IT mis-management did.

BlueBlood

1/24/18 5:06pm

I have 2 good friends that work in their IT and IHC is looking to outsource

tander123

1/26/18 1:09pm

Yes. Easy to hire.

DryFlyUte

1/26/18 2:51pm

How would it be bad?

Kerbouchard

1/24/18 8:01pm

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