Showing posts with label Hospital Corporation of America. Show all posts
Showing posts with label Hospital Corporation of America. Show all posts

Friday, June 15, 2012

The Rise and Fall of Businessman Rick Scott - 2/2

Rick Scott
by Nomad

IPart One of this two-part series we took a close look at the rise of Rick Scott who, through its aggressive business tactics built the largest for-profit healthcare provider network.
Before the scandal which was to rock the company to its foundations, the corporation had grown to more than 340 hospitals, 135 surgery centers and 550 home health locations in 37 states and two foreign countries. 
And then, in a matter of months, it was out of Scott's hands.

Scott's Sudden Fall 
Scott's prestigious empire all came a-tumbling down when, on March 19, 1997, FBI agents, in conjunction with the Internal Revenue Service, the Health and Human Services (which oversees Medicare), and the Defense Department's Criminal Investigation Service raided Columbia/HCA facilities in El Paso, Texas. Eventually the seizure of documents regarding the case would expand across the country. At issue were allegations that Columbia/HCA had knowingly bilked Medicare and Medicaid.

Wednesday, June 13, 2012

The Rise and Fall of Businessman Rick Scott 1/2

Businessman Rick Scott, 
the Face of 
Corporate Healthcare
by Nomad
The story of Rick Scott's career before entering politics is a fascinating one. How a person with such a background would even consider the public scrutiny of a campaign show something about the audacity of the man.

When businessman Rick Lynn Scott decided to throw himself into the Florida governor’s race, he had one significant problem to deal with. 

As a candidate with absolutely no prior political experience, his sole qualification for being the Sunshine State’s governor was his shady history in business. 

A Very Aggressive Corporation
Before he lost his empire, Rick Scott had much to be proud of. At the young age of 34, he co-founded what was to become the largest private for-profit health care company in the US, Columbia Hospital Corporation

According to his supporters, Columbia was a wonderful example of how the free market system could be applied to health care, an idea that conservatives have gushed about for decades. Columbia, like Bain Capital, became known for its aggressive business tactics and since its founding had embarked on one of the most aggressive and successful buying and takeover sprees ever seen.