Suddenly announced sale of three Catholic Hospitals in PA
ObamaCare cuts in Medicare reimbursement have changed the rules so drastically for hospitals "you [Mercy Health Partners] are in an untenable situation," said this physician. Most hospitals have accumulating debt because of capital investments, says the doctor. But they can't deal with that debt if in fact their ability to earn money is cut off or drastically reduced over time.
Alarmingly, the doctor, with a lifetime of practice in hand, says that "hospitals close in clusters where there is decreased income in terms of relatively low Medicare reimbursement…because they are the most vulnerable." He adds that what is happening in Scranton, Nanticoke, and Tunkhannock with the Mercy hospitals "is just the beginning. It will happen everywhere because reimbursements will be reduced" under ObamaCare. Particularly, he adds, in areas where you have a high elderly population.
If the doctor is right, and he is not alone in saying this, the proposed sale of the three Mercy hospitals becomes a harbinger of what will happen nationally as a result of ObamaCare slowly tightening its government tentacles over the private health care system. Which means the sale of the three Mercy hospitals has added Scranton to what the Wall Street Journal has already called ObamaCare's "trail of destruction."
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