Locations of Community Health System’s 196 Hospitals in 29 States
WITH 2014 REVENUE OF $ 18.6 BILLION AND NET INCOME OF $ 136 MILLION, COMMUNITY HEALTH SYSTEMS (CHS) OWNS SEBASTIAN RIVER MEDICAL CENTER.
So when the Sebastian River Medical Center (SRMC) sued the Indian River Medical Center (IRMC) over the hiring of it’s CEO Steve Salyer as IRMC’s COO, IRMC was dealing with a Fortune 500 company.
We have written two articles on why the Indian River County Hospital District (IRCHD) should know and how Indian River County taxpayers want to know the amount of the settlement, legals fees and the amount of Mr. Salyer’s severance package over his supposed resignation.
As of this writing, 477 readers have clicked on these articles.
Why do the taxpayers have a need to know? Because for 2016 the IRCHD budgeted $ 6,767,000 of their taxes to fund IRMC for indigent care and $ 1,350,000 for its Partners Program.
Here is one reader comment regarding the taxpayers need to know:
“Good job. Keep after this; the pubic deserves to know.”
Here is a comment as to why the IRCHD needs to know:
“The district needs to see the terms of the settlement because it could effect the asset value of the holdings for which they are the trustees. Suppose the settlement calls for a balloon payment 10 years hence; The hospital board is gone , Susi is retired and it puts the hospital in bankruptcy and it all falls in the lap of the District. The trustees have a fiduciary responsibility to know and the public deserves to know how their hospital is bring operated.”
In this regard, in IRCHD’s Master Lease with the Indian River Memorial Hospital, Inc. (dba IRMC) dated November 15, 2012, under Section 9, Covenants and Representations of Lessee (IRMC), paragraph f, subparagraph b, it states: “The Lessee (once again, IRMC) shall furnish to the Lessor (once again IRCHD) the following…”with reasonable promptness other such financial data requested by Lessor as may be demonstrated to be necessary to protect the interest of the Lessor.”
Did you know that at a recent IRCHD meeting Trustee Dr. Michael Weiss made a motion to have the IRCHD withhold any further taxpayer funding for indigent care until such time IRMC is forthcoming in reporting this financial data. Dr. Weiss’ motion was defeated five to two. Dr. John Zudans was the only Trustee who supported Dr. Weiss’ motion.
In out last article we wrote about a wealthy fellow living in Orchid Island who said he has always made a sizable annual contribution to the Indian River Medical Center Foundation to support the IRMC. He said: “I’m done with the hospital and not donating any more money until there is a change in management.”
Since then we received call from a fellow in John’s Island who said not only was he doing the same thing but he know of others who felt the same way.
This could spell trouble for Mr. Tony Woodruff, Chairman of the IRMC Foundation Board of Directors and a member of the IRMC Board of Directors.
Since 2004, the Foundation’s major capital campaigns have been devoted to IRMC’s Emergency Services Pavillion, ($15 million), The Heart Center ($ 15 million), The Sheridan Intensive Care Unit, Waxlax Recovery Room & Patient Pavillion ($ 21 million) and The Excellence in Cancer Center ($ 48+ million).
Mr. Woodruff and I exchanged emails in which he indicated he would be returning to Vero Beach on January 1 and would contact me to talk about the “IRMC situation.”
No word yet.