Concord Hospital’s purchase of LRGHealthcare through bankruptcy auction was hailed as a way to save the hemorrhaging organization which had already cut its staff in half and shut down many services. With its bid of $30 million — a fraction of the value of the buildings alone — and the dismissal of the hospital chain’s staggering debt, Concord Hospital was thought to be in a position to bring back some of the vitality of the Laconia-based operation.
Yet, two months after the bankruptcy court approved the sale, Concord Hospital has made it clear that further trimming of services will be in store.
The first shoe to fall is Advanced Orthopedic Specialists, a group of doctors who comprise the oldest orthopedic practice in the Lakes Region. Last Wednesday, the four partners, doctors Jeffrey Clingman, Alex Hennig, Jeremy Hogan, and Glenn Lieberman, announced they would be forced to disband, effective March 31. Concord Hospital chose not to renew the provider service agreement that has been in place since 2004, they said.
Hogan said Concord Hospital does not enter into provider service agreements with physician groups, and said he and his fellow partners were unable to reach an acceptable arrangement with Concord Orthopaedics, a private practice in Concord. Two of the partners may align with Huggins Hospital in Wolfeboro.
Prospects of Hike in Minimum Wage
President Joe Biden is pushing for a hike in the federal minimum wage to $15 per hour, but whether it survives as part of the coronavirus stimulus package is uncertain.
Conservatives fear that raising the minimum wage will either bankrupt businesses already dealing with the effects of the coronavirus, force them to lay off employees, or to pass along higher costs to their customers.
Liberals say an increase is necessary to pull people out of poverty which, in turn, will reduce the cost of public assistance for those who cannot achieve a living wage.
The Congressional Budget Office’s original analysis of the effects of a minimum wage increase from the current $7.25 per hour found that an increase to $15 per hour would likely reduce the number of people living in poverty by 1.3 million while increasing unemployment by 1.3 million. Fewer people would be working, but fewer would be living in poverty. A revised estimate this month showed the impact would be less even: 1.4 million people would be out of work and 900,000 people living in poverty would be lifted out.
Biden has acknowledged that the provision now has dim prospects for survival in Congress, where it faces political opposition and procedural hurdles.
The $7.25 federal minimum wage has been in place since 2009 and, when adjusted for inflation, the purchasing power has declined more than a dollar.
Research funds misused
The federal Health and Human Services Department’s inspector general has found that federal officials repeatedly raided a fund earmarked for biomedical research to pay for unrelated salaries, administrative expenses, and other things, according to the findings from an investigation into a whistleblower complaint shared with The Washington Post.
Hundreds of millions of dollars intended for the development of vaccines, drugs, and therapies by the Biomedical Advanced Research and Development Authority, or BARDA, were used for other purposes, including the purchase of office furniture, between 2010 and 2019.
The report does not specify a total amount of money that was misappropriated, but a spokesperson for the special counsel’s office said the assistant secretary’s office had spent millions of dollars in funds intended for biomedical research and development.
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