Archive for the ‘The People Involved’ Category

http://blogs.wsj.com/venturecapital/2013/03/04/ascend-health-founder-weighs-in-on-whats-changed-after-sandy-hook/

“…doctor and entrepreneur Richard Kresch has announced he will launch his third company to acquire or start up short-stay mental-health facilities that take a different approach to treating acute mental problems. 

“Kresch’s last company, Ascend Health, grew to be the country’s largest private psychiatric hospital company before it was acquired last year by Universal Health Services for more than $500 million. He spoke with VentureWire about his newest company, US HealthVest, which has launched with $36 million from Polaris PartnersFidelity Biosciences and other investors.”
More here…..

http://finance.yahoo.com/news/us-healthvest-gains-36-million-140000274.html

My favorite quotes from this piece:

“Through our past work, we have developed a strong reputation for working closely with local communities to meet unmet needs by creating important and impactful patient-focused facilities.”

“Polaris Partners is excited to back Richard and his strong team again as they make important contributions in this area of great need.”

 

NY Psychiatrist Creates Empire

Dr. Richard Kresch, a former New York-Presbyterian/Columbia psychiatrist, has created a national behavioral health company. Ascend Health, a privately held company with executive offices in Manhattan, was launched in 2005. It has since acquired eight psychiatric hospitals—five of them in Texas—and is a major provider of care for TriCare. Still in growth mode, Ascend is in negotiations to buy a ninth facility. Despite the company’s success in owning and operating behavioral health facilities, Dr. Kresch said there is little chance of opening a facility in New York, because of the difficulty of operating as a for-profit company in the state. “The regulatory climate’s a lot better for us in the Southwest,” he said. Dr. Kresch previously ran a chain of skilled nursing facilities and another psychiatric hospital company called Heartland Health Developments.

Read more: http://www.crainsnewyork.com/article/20110426/PULSE/110429916#ixzz1ybOtj7ba

Check out all the good news going on over at Ascend Health…   http://www.bizjournals.com/boston/blog/startups/2012/06/polaris-venture-partners-reports-10x.html

Today I also stumbled upon this little gem of a website that you really must read about another Ascend health facility that I have not focused on much since it’s unfamiliar to me.  In particular, look at the comments section and note the similarities between the things said on my blog and what these people say about this facility:

http://thelundreport.org/resource/private_cedar_hills_hospital_raises_eyebrows

In particular, note this doctor’s comment (reprinted in its entirety, and without any editing, but I’m putting certain parts in RED for emphasis).

“I’m a doc that has worked for companies like this one. First: don’t believe *everything* you read above, BUT believe a lot of it. Second: When you hear “It’s all about the money,” you can be sure that is correct when you are talking about administration. If the staff wanted to make money, they would have picked different careers. The trick is figuring out if the company has a balance between profit to stay open/relevant and providing high quality care. When you hear how miserable the staff is at a place like this (search the net for staff satisfaction scores), you can be sure that the place doesn’t have a decent balance. If they treat the staff like rubbish, they will have rubbish for staff…So Third: look at the history of the corporate leadership. They’ve built several low-quality profit machines and sold them quickly. Do you want those guys directing your program?”

Sing it Nelly…. “Haaaaaaaaaayyyyyyyyyyyyy… it MUST da Money!”

http://articles.philly.com/2012-06-04/business/32032762_1_health-care-hospitals-facilities

So you’re a company that can get $500 million for your hospitals…. what can my little measly $6 million (which I don’t have, as you know) contribute to the kitty?

A mother whose 15 year old was admitted to UBH a couple of weeks ago told me that someone at UBH threatened to take her to court if she did not enroll her child at Legends Academy.  That made me suspicious.  So I decided to see what the relationship is between Legends Academy and UBH Denton and its parent company, Ascend Health.  And guess what?  They’re basically being controlled by the same people.

Legends Academy is a charter school in Texas, conveniently located near UBH.  According to the Texas Secretary of State, it assumed the name Legends Academy in 2008, and was previously known as NorthPointe Academy.

According to the IRS (see the picture to the left), NorthPointe is a public charity.  A tax-exempt charity.  That means it pays NO INCOME TAXES.

And, according to UBH’s own website:

“To allow young patients to continue their education without interruption, we have partnered with Legends Academy, a certified Texas Charter School. Students attend school at Legends Academy and receive full academic credits as well as therapeutic groups. For more information on Legends Academy, please visit www.thelegendsacademy.org.”

A “partnership???”  Not really.  Look at who is on the board of directors of this charity:

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Richard Kresch, President & CEO of Ascend Health

Neal Cury, Chief Operating Officer of Ascend Health.

Cathi Ledet, Vice President of Financial Operations of Ascend Health,

That is not a partnership–that is three out of eight board of director slots controlled by the for-profit hospital!

Also, as a charter school, Legends gets funding from the State of Texas based on enrollment.  So, every time the hospital can strong arm a parent into enrolling their child at Legends?  They get funding for the school.   What a RACKET.

As a U.S. taxpayer I am OUTRAGED that this is considered a “non-profit” entity when it is in “partnership” with a for-profit hospital, yet both entities are under the direction of the same people!   Maybe this is legal, but in my mind it’s unethical.  And, I have a feeling I’m only scratching the surface.

http://www.healthgrades.com/physician/dr-atique-khan-xg37x

Lovely. Unless something has changed at UBH, this guy is still their Chief of Staff. The head dog. The big chieftain.

What a great example of medical competence he presents. I hope Richard Kresch is proud of who is heading up his hospital.

Wow, just imagine…. a former nurse at UBH Denton was fired from a hospital ….

“After Schierding left Correctional Medical Services, according to her Parkland job application, she worked briefly as a nursing administrator at two private psychiatric facilities in the Dallas area — five months at Millwood Hospital in Arlington, then seven months at University Behavioral Health in Denton.

“Federal regulators found serious problems during Schierding’s tenure at University Behavioral, some similar to issues that have since come to light at Parkland.”