I imagine Fox is luxuriating at one of his Atlanta or North Carolina manors laughing hysterically at the Michigan executive yahoo who took Beaumont off his hands and no doubt paid him millions as part of the deal. Spectrumissued a statement to MiBizabout the disastrous financials reminiscent of the spin Fox served up during his seven-year tenure. Spectrum was targeting a $156 million operating profit. There are no bios or photos of Beaumonts other directors, and thats by intent. Freese Decker held various strategic and operational roles before being named to the top job in 2018. And given the sorry state of Beaumont resulting from Foxs leadership, its an emergency rescue. Its a vicious cycle, one that I doubt Spectrum has figured out how to solve. How Absurd. Share. Starkman: Electric Vehicles and the Exploitation of Michigan Taxpayers. Whats notable about the joint announcement and Beaumonts internal communications is whats missing. Combining Spectrum with Beaumont would be akin to Target, whose management is respected and its brand has a loyal following, merging with Macys, a troubled chain whose flagship store in midtown Manhattan has lost its luster much like Beaumont Royal Oak. Turns out Beaumonts reported $4 billion reserve also dwindled by the time Fox turned over the keys to Freese Decker. After posting his letter, Freed noted on his LinkedIn page that Beaumont made $167 million from its operations in 2020, which included revenue recognition of $349 million from the CARES Act and FEMA payments for Covid. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved.. By Eric Starkman. Reach Eric Starkman at: eric@starkmanapproved.com. In a company video posted on Vimeo Thursday, Beaumont CEO John Fox disclosed that Beaumont plans to spend significant dollars to embark on a three to five-year plan to expand the health systems private bed capacity. Starkman: Prominent Beaumont Cardiologist Calls for Ouster of Corporate Leaders, The Clueless Generosity of Beaumont CEO John Fox, Beaumont's Bonuses and the Sorry State of Michigan's Political Leadership, The Controversial Company Beaumont CEO John Fox Keeps, Beaumont Chief John Fox to Detroit-Area Children -- FU Too, The Beaumont Health Superheroes Who Spoke Truth to Power, The Discredited PR Spin of Beaumont Health CEO John Fox, Beaumont and Advocate Aurora End Merger Discussions, Prominent Beaumont Donor Calls for Firing of CEO John Fox and His Key Executives, Starkman: Why Tree Huggers Must Save This Small Town in Michigan From Ford, 'Detroit In Black And White:' Why We Got Kicked Off 910 AM, Randy Wimbley Leaving Fox 2 After a Decade on the Air. Merging with Beaumont would more than double Spectrums size in some areas. But Spectrums management is 100 percent running the show. His latest story for DeadlineDetroit.com shows that high ranking executives are being let go in advance of the proposed merger with Grand Rapids based Spectrum Health. The only remaining senior management executives are Grant, the chief nursing officer, and Jane Jordan, the chief lawyer, who like Grant and CEO Fox, has her primary home in Atlanta. Understandably, Spectrum is a more profitable hospital system, but its profits also are bolstered by its lucrative Priority Health insurance arm. Beaumont Dearborn also is receiving military assistance to help the hospital manage its Covid patient load. Most of Foxs senior management team has departed, and hes expected to leave once the takeover is completed and he receives the millions of dollars likely owed to him under his golden parachute agreement. Spectrum, with $6.9 billion in revenues, operates 14 hospitals in the western side of the stateand has 30,000 employees. Gretchen Whitmer has paid lip service that shes committed to so-called healthcare equity, meaning that Blacks receive access to the same quality of care as whites. Starkman: Beaumont's FU to Metro Detroit and its Covid-19 Workers Tweet. As best I can tell, Freese Decker is genuinely committed to forging relationships with the communities Spectrum serves, unlike Fox and his managers, many of whom dont even live in the Detroit area. Beaumont derailed the effort after spending nearly $2 million on union busters, furthering ill will among its nurses. The FTC is headed by Lina Khan, a Democrat appointed by Biden and sworn in last June 15 to a three-year term. When Fox arrived, Beaumont Royal Oak was among the best regional hospitals in the country; today it can best be described as a giant but mediocre community hospital. Its near impossible to put a positive spin on a critical and passionate letter written by a former top executive who played a major role transforming Spectrum into a western Michigan powerhouse. In his letter, Freed expresses concern that seven Beaumont directors will be named to the combined Spectrum-Beaumont board and that they could ultimately exert undue influence. Many organizations are not interested in real change, Chris Metzler, the former associate dean for human resources and diversity studies at Georgetown University, told NBC News. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved. He's even willing to. Beaumont institutionally has a very tenuous relationship with truth. Six months into Freese Deckers acquisition of Beaumont Health from former controversial CEO John Fox, metro Detroits biggest hospital system is suffering from a pandemic of red ink. To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. Lina Khan of the Federal Trade Commission, Hospital prices in southeastern Michigan are among the lowest in the country, so one would have to be incredibly nave to believe Spectrums claim that its takeover will lead to more affordable care. In quickly reviewing Spectrums website and news releases, I can't find evidence that Freese Decker has expressed the belief that Spectrum needed to achieve considerable size to survive and remain competitive. Despite these challenges, our team members continued to provide nationally recognized health care and we were able to make new investments in the market and bring on new talent, Spectrum said. The writer, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. Even Beaumont employees suffering from myopia can read this writing . Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, A Zoom video conference call that was leaked this week, a month membership or a one-time donation, Sh** Show At Beaumont Endoscopy Suite In Chaos Amid Nursing Shortage, C-Section Horror at Beaumont Lawsuit Claims Surgeon Left Sponge in Patients Abdomen, Former Spectrum CFO Trashes Beaumont Merger and Warns of 'Massive Financial Loss', Beaumont Health's Merger Partner Reveals its Disingenuous, Deceptive and Disrespectful Nature, Spectrum Healths Black Employees Explore Class Action Lawsuit Alleging Systemic Racism, Beware! The good news is that Beaumont isnt overrun with critically ill Covid patients, which suggests that vaccines are doing what they were intended to do: Prevent people who contract the disease from becoming critically ill and dying. Beaumont CEO John Fox will forever be remembered in the Detroit area as a con man. He tweeted on Thursday that he was cautiously optimistic about certain aspects of the partnership. Fox, who has already been paid more than $20 million in compensation since joining Beaumont in 2016, potentially stands to earn tens of millions more if regulators approve Spectrums takeover. The Centers for Medicare and Medicaid Services objectively ranks hospitals for quality and Beaumont recently got dismal results: Of Beaumonts eight hospitals, only Beaumont Troy, which is overseen by managers willing to stand up to Fox and Wilson, earned a coveted 5-star rating. I'm officially declaring Beaumont CEO John Fox, the Atlanta carpetbagger whose greed and mismanagement destroyed Metro Detroit's biggest hospital system and put the health and safety of areas residents at risk, "The Cookie Monster." In Dearborn, the nursing shortage is so acute that an ICU operates at 60 percent capacity. Its totally bizarre.. To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. Grand Rapids business community is small and tight knit, and Spectrum is a major employer in western Michigan. Whats becoming increasingly obvious is how Freese Decker, like John Fox, is prone to making public statements that have no basis in fact. Gretchen Whitmer were silent. Thats how Beaumont ended up in the sorry state that it did. Susick fired Royal Oaks highly regarded and very much beloved head of pediatrics after he protested budget cuts that he argued would harm patient care. Consultants are part of the . Starkman: Electric Vehicles and the Exploitation of Michigan Taxpayers. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved. Under the terms of the deal Fox negotiated, Advocate Aurora would have taken over Beaumont and its $2.5 billion reserve without forking out a penny. Fox didnt disclose how much Beaumont will spend to fund its real estate expansion. Prioritys goal is to capture as much market share as possible and then use that power to reduce what it pays to doctors to cover their services. Beaumont, consistent with its practice of putting a spin on undesirable news, notified employees that it is making "good progress" toward . Spectrum and Beaumont announced today that they are moving forward with Spectrums takeover, having provided the applicable regulatory agencies with all requested information. The deadline apparently has passed for the Federal Trade Commission to challenge the deal. Seven Failed Beaumont Directors Will Serve on Board If Spectrum Merger Gets Approval, Beaumont CEO John Foxs Final FU to Detroit: Merger with Spectrum Health, Beaumont Health Chair John Lewis -- Champion of CEO John Fox -- Stepping Down in June, Beaumont Manager Moved to Sabotage Anesthetists Concerns About Critical Drug Pump Shortage, Beaumonts John Fox Set to Unload Historic Bloomfield Hills Estate, Beaumont Nurse Anesthetists at Royal Oak, Troy and Grosse Pointe Vote Overwhelmingly to Unionize, Beaumont Forces Suspension of Leader of Nurse Anesthetist Union Drive, Starkman: Why Tree Huggers Must Save This Small Town in Michigan From Ford, 'Detroit In Black And White:' Why We Got Kicked Off 910 AM, Randy Wimbley Leaving Fox 2 After a Decade on the Air. Fox has blamed the pandemic for Beaumonts HR problems, but the issues predated Covid. Reach the writer ateric@starkmanapproved.com. To be sure, Beaumont isnt alone in suffering from a nursing shortage. Studies show that when hospitals combine, healthcare prices increase while patient quality declines. The anesthesiologists did this while earning a fraction of their . Soon after, Fox announced the Advocate Aurora deal. Fox and Geary have referred to the Spectrum transaction as a merger and a partnership. Fox has disclosed that he will depart once the deal is completed, and Id be surprised if Grant and Jordan plan to stick around. Freese Decker grabbed the brass ring, but it was badly tarnished. But Beaumonts release last month announcing her elevation to chair to replace John Lewis provides some insight. If theyre out there, theyre certainly not easy to find and, no, a few quotes about financials every quarter does not count as transparency, at least not in my book.. Reach Eric Starkman at: eric@starkmanapproved.com. Its almost a mantra among Beaumont Royal Oak nurses that Henry Ford treats their nurses like royalty. Beaumont has had a contentious relationship with its Royal Oak nurses for years, prompting them to try to organize a union two years ago. Add in a staffing shortage, and you have a perfect storm," Fox said in a news release, urging Detroit-area residents to avoid Beaumont emergency rooms for all but critical care treatments. His chief marketing officer resigned last September, his CFO quit in March, his chief compliance officer left a few weeks ago, and his chief revenue officer is out the door in a few days. The companys chief revenue officer left earlier this month. Fox trumpeted the deal as a win for Southeastern Michigan because he said Advocate Aurora would invest $1 billion to move the William Beaumont Medical School in Rochester to the Royal Oak campus and upgrade Beaumonts technology. Fox previously disclosed he talked to more than 100 hospital systems hoping to find a corporate bride for Beaumont. Joseph Hill, who was hired to be diversity chief at Hermann Health System in Houston, was fired even before starting his job allegedly because he had already identified racial bias at the hospital. Many executives ask me privately, How many Black people do I have to have?. Spectrum appears to have grown organically, focused on a region it knows well. Though Spectrum Health is a respectable hospital network run by a management and board deeply committed to the Grand Rapids area, the evidence is overwhelming that southeastern Michigan residents wont ultimately benefit from the deal. Allowing them to continue profiting from their mismanagement would undermine Spectrum managements credibility from the get-go. With all requested information doubt Spectrum has figured out how to solve announced the Advocate deal... by eric Starkman of Los Angeles is a major employer in western Michigan the top job in 2018 Biden! 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