U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Tennessee > Kingsport - Johnson City - Bristol
 [Register]
Kingsport - Johnson City - Bristol The Tri-Cities area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-19-2016, 08:01 AM
 
Location: Tennessee
28,536 posts, read 21,393,949 times
Reputation: 35009

Advertisements

Wellmont corporate probably has at least a couple hundred staff in Kingsport. Go to any restaurant on Stone Drive at lunch and you'll see a lot of Wellmont badges. If those people are gone, it hurts nearby restaurants, Kroger, Kmart (lol...but Kmart is beside the offices), as well as the office space that will then sit vacant for who knows how long. That's not counting the breadwinner effect on many families. Let's face it - business office jobs in a major corporation aren't going to be replaced by more light manufacturing or another retail development.

Who knows - there may not be many job losses. there will be some level of people leaving preemptively out of fear. Some older staff may take a buyout or early retirement incentive.

On the clinical side, I really have no clue. I can't see Holston Valley becoming like Hancock County hospital or something - the town is simply too large and needs too many services to contract to that scale.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 09-20-2016, 01:27 PM
 
Location: Jonesborough, TN
692 posts, read 1,277,037 times
Reputation: 710
Quote:
Originally Posted by Rangerred View Post
I do think the MSHA/Wellmont merger will end up being another blow for Kingsport/Bristol, though, and a boon for Johnson City furthering my thought that a generation from now the area will be less "Tri-Cities" and more "Johnson City"
For many more reasons than just this merger, I believe this is an accurate statement.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-04-2016, 08:06 PM
 
Location: Johnson City, TN
667 posts, read 826,683 times
Reputation: 449
Johnson City Press: FTC staff opposes Mountain States, Wellmont merger

So it appears the Federal Trade Commission is opposing the MSHA/Wellmont merger. I'm not sure this will really affect the ultimate outcome but it is definitely a win for all of those opposed to the proposed merger.

I know many people opposed to the merger on the premise of it creating a "monopoly" and driving up costs along with not having an alternative should one not be satisfied with the service they are receiving. On the flip side, Wellmont has made it clear they cannot remain a viable organization as things currently stand. Should the deal with MSHA fall through, Wellmont will be acquired by an outside the region healthcare organization, probably for-profit, who will be looking to cut costs. IMO, quality of service would suffer as would community accountability because the board of directors would not be local. I see the final outcome being worse for the regional economy than the merger that is being proposed.

A merged system would retain local accountability and would avoid resources being sent to an organization based outside the region. Not the mention the numerous benefits for ETSU that have been discussed. Whatever ends up happening, I think Wellmont's home base of the Kingsport-Bristol metro ends up losing in the long run.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-04-2016, 09:31 PM
 
Location: Tennessee
28,536 posts, read 21,393,949 times
Reputation: 35009
TN/VA have the say on this. This is essentially a nonbinding opinion.

I understand the concerns about the monopoly, but I also think shifting control outside the area is worse. If Wellmont cannot sustain itself for whatever reason, I'd rather control go to local leadership than to an unknown buyer from who knows where. If there are job losses, it's likely to be worse with an out of state buyer.

Areas this small do not generally have two large medical providers like this. Personally, I don't see how the three, including HMG, all manage to survive.

I'm concerned about rural areas not having access to medical care, but this is going to be a problem going forward as rural areas depopulate and reimbursement rates decline. It's not necessarily a local issue.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-05-2016, 10:19 AM
 
Location: Gray, TN
2,164 posts, read 3,966,464 times
Reputation: 911
Do we truly believe that Wellmont cannot sustain itself as a viable organization?

Per their audited financial statements, they had income from operations of $6.7M and 4.8M as of 6/30/15 and 6/30/14, respectively. Charity care each year is about $80M, so if medicaid were expanded, you would probably see $50M more net income each year.

https://www.wellmont.org/uploadedFil...nts-FY2015.pdf
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-05-2016, 01:14 PM
 
Location: Johnson City, TN
667 posts, read 826,683 times
Reputation: 449
It was my understanding they were actively seeking a buyer and do not have the desire to continue on as an independent entity.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-05-2016, 01:35 PM
 
Location: Gray, TN
2,164 posts, read 3,966,464 times
Reputation: 911
Who is they? Since this is a non-profit: the board, management?

A merger with MSHA kind of makes sense because it is also a nonprofit. Combine the two, eliminate inefficiencies, create synergy - that's the plan anyway. Selling out benefits no one.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-05-2016, 01:58 PM
 
Location: Johnson City, TN
667 posts, read 826,683 times
Reputation: 449
I believe it was 2013 when Wellmont said they were seeking an "alignment partner" so that tells you the system was not looking to remain independent. I'm not sure what it will take to make the naysayers happy as I'm sure there would be loads of complaints if an outside organization were to take over. The COPA (and cooperative agreement in VA) should help keep a cap on any sort of price gouging although I'm not sure it will address the abysmal nursing pay. The Mission Hospital system in the Asheville area has seemed to function well under a COPA and I'm assuming the situation would be similar here.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-05-2016, 04:31 PM
 
Location: Gray, TN
2,164 posts, read 3,966,464 times
Reputation: 911
Don't lump me in with any merger "naysayers". I much prefer a merger to an outside takeover. I try to keep my eyes open. A merger is going to have drawbacks and benefits. The main benefits I see are research related and some cost savings on the trauma center. The main drawback is a substantial loss of really good jobs. I see no benefit to an outside takeover by a for-profit.

As for the concerns surrounding Wellmont's viability, management is going to have to show me. Looking at their audited financials and tax returns, they seem to be in near perfect health.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-05-2016, 07:53 PM
 
15,764 posts, read 28,857,797 times
Reputation: 19563
The FTC has power, real power. MSHA and Wellmont combining stifles competition and creates a monopoly.

rccrain: As far as who is they at Wellmont: That is the Board and Executive Leadership.

One way or the other Wellmont needs a buyer.

Wellmont has had issues with their financials over the years. Hopefully those of the past few years are in better shape than previous years.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Tennessee > Kingsport - Johnson City - Bristol
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 07:56 PM.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top