GE Healthcare unit

Discussion in 'Wall St. News' started by r-in, Sep 22, 2008.

  1. r-in


    An article I read a few months back spoke of cut backs in Medicaid payments for procedures involving the high end x-ray, mri, etc that have come out, as well as a cut backs in credits for the purchase of those machines in the first place. It mentioned how quite a few boutique shops have opened with one of these new high end machines doing only procedures/imagining related to that machine. The article also mentioned how GE Healthcare was making a fortune with the way reimbursement was setup for the purchase of the machines as well as for the procedures since it made them very profitable for the practices using them.
    Well I figured at the time that meant I'd be hearing how GE Healthcare has hit hard times, as they are headquartered where I live. And I did, there were announced layoffs and mention of lower expected earnings. Then the funny part, an article in our local paper this weekend. The article brings up the cuatbacks in payments for purchasing the machines and all the rest, and then asks the CEO of the unit what the plan is. Let's see, GE is the company that has spurred the consultant industry easily as much as Toyota with management programs, and efficiency improvement programs. Consultant this, consultant that, and by the time the consultant is done you are out a few $100,000 or more and most likely in a couple years are back to your old ways. But I digress, the CEO's response is, we are looking for efficiencies in production...NO, we are looking to cut back on our costs, somewhat as they all ready announced layoffs, but no mention of any real cost cutting, we are outsourcing ...NO. What are they going to do. They are going to spend a lot more time and MONEY in Washington DC looking to buy politicians to get those credits and reimbursements back! WTF!!! Ok he didn't say the part about buying politicians, but did say spend more time lobbying(ie pissing alot of money away to buy politicians) in Washington.
    That to me is pathetic. C'mon do your fu----- job and figure out how to make money the real way. I guess the secret to Jack Welch may have come out. Buy as many politicians as it takes to make money.