Floyd Medical Center's Stuenkel sends letter to candidates discussing Redmond Regional Medical Center statements about hospital bonds
by Floyd Medical Center
Jul 07, 2012 | 8664 views | 14 14 comments | 31 31 recommendations | email to a friend | print
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Floyd Medical Center officials on Friday indicated hand delivered letters were sent to Floyd County Commission candidates addressing what FMC leaders called inappropriate comments made by representatives of Redmond Regional Medical Center concerning the approval of a bond package by the County Commission.

“Clearly there is an implication that members of the Floyd County Commission have done something inappropriate in the backing of bonds by Floyd Medical Center,” FMC President and CEO Kurt Stuenkel wrote in the letter.

A statement issued by John Quinlivan, CEO of RRMC, indicated that it is appropriate that financial questions be asked.

FMC is a not-for-profit hospital. Redmond is owned and operated by the for-profit Hospital Corporation of America.

“I am hopeful you will see through the misinformation Redmond’s leadership has provided in calling for a ‘level playing field,’” Stuenkel wrote. “They seek to disrupt the stable relationship that FMC has with the Floyd County Commission.”

The Floyd County Commission has approved the issuance of $20 million in new financing and the refinancing of $31.8 million in older bonds for FMC.

The new bonds will fund work on the fourth floor, renovations to the cath lab and related equipment, expansion and improvements to the emergency room, a variety of small renovation projects throughout the hospital, and expenditures related to the enhancement of electronic medical records purchases, FMC officials said.

The refinancing of older debt will save the hospital approximately $4 million.

Quinlivan issued the following statement:

“It is appropriate that the citizens of Floyd County inform themselves about the financing and management of Floyd Medical Center. Are executive salaries at Floyd Medical Center appropriate? How much public debt has Floyd Medical Center accumulated? To what degree are the citizens of Floyd County at risk should Floyd Medical Center default?  What is the value of the tax exemption Floyd Medical Center enjoys and what does it cost Floyd County in lost tax revenue? These are all reasonable questions. It is appropriate they be asked.”  

According to an email issued by FMC spokesman Bill Fortenberry, Stuenkel’s letter was hand delivered Friday to Floyd County Commission candidates.

A copy of the letter posted on the FMC website indicated it was also sent to Hospital Authority members, state lawmakers and candidates for local state House and Senate seats.

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dumpcake
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July 09, 2012
Don't forget, that while Uncle Stuenkel is knocking down 7 figures a year in salary alone, that many of the units inside FMC are operating with skeleton crews at best.

People would find it disturbing just how short staffed some of the units are. Constant renovation and expansion at the cost of properly staffing your facility is no way to run a hospital. Eventually someone will get bitten by such practices, though.
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Almost_Anonymous
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July 09, 2012
Simple free enterprise: A hospital administrator's pay should be based on the going rate for people in similar positions elsewhere. If you pay more than that, you're wasting money. Pay less, and you get less competent people.

So here's the question: how does Mr. Stuenkel's pay compare to his counterparts at similar hospitals? Higher? Lower?

Thanks.
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Romeg8r
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July 09, 2012
The quote in the article simply says that John Quinlivan feels that Floyd tax payers should educate themselves. Why would FMC and Stuenkel have a problem with that? Perhaps Stuenkel's HUGE salary?
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EWInsight
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July 07, 2012
Ok the comments here about FMC using Floyd County taxes to cover there expansion into Polk County is a lie. The relationship between our counties is already bad. But lying openly about this and saying that Polk County citizens are stealing your tax money in the name of Healthcare is angering.

Also, Not every commission candidate for Floyd County was delivered this letter.
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Prossarian
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July 08, 2012
I don't think anybody here has lied. I don't believe anyone has said Floyd tax dollars have been used in Polk. I believe what has been said is FMC has bonds backed by the Floyd taxpayer that are being used for Polk County operations. The question remains, why is FMC, a "nonprofit, county hospital" even wanting to expand into another county? Could it be that Floyd Hospital, which is managed by Floyd Healthcare Management is truly a for profit entity merely using the tax exempt status when it suits them financially? Could it be to help continue the CEO's million dollar plus salary? Is the CEO truly worth in excess of $1,000,000.00 a year? Should a public, non-profit corporation be paying such extraordinary salaries? FMC is very representative of what's wrong with this country in my opinion. While privately held institutions have cut back, trimmed the fat and downsized operations, government ran, subsidized or those that use the non profit status as a public entity continue to rape, scourge, devour and cheat the taxpayer of every cent they can. Not to get off on a rant here but this entire FMC in your face routine disgusts me greatly. Steunkel is trying to defer attention from the facts by downplaying Quinlivans fair and reasonable questions concerning how FMC uses taxpayers money through the bond process.
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4lowertax
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July 08, 2012
EW, enlighten the floyd county citizens...because we want to be educated on the money our government owes and spends. It just seems to us if FMC is borrowing money from bonds, and the hospital does not have the money to expand, we should stop expanding. Nothing personal between the two counties. Redmond had the polk hospital in the beggining didnt it? With FMC buying and leasing the whole county and every vacant building in the county, it seems FMC should pay for itself before expanding to bartow and now polk.
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wish2010
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July 07, 2012
Floyd Medical is a non-profit hospital; however, what would be profits paid to the stockholders of a for profit hospital are spent on the salaries of the CEO, CFO and all the directors in the management hierarchy. Also, all the Doctor's offices, furnishings, etc. that should be paid by the Doctor's who aren't tax exempt are paid by the hospital giving the Doctor's the tax exempt status of the hospital. Then you have all the hospital service companies, many owned or partly owned by hospital management, that receive no bid contracts at tremendous expense to the taxpayers of Floyd and surrounding counties.

So, an elite group of medical professionals are extracting huge salaries and profits from the taxpayers.
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factsdontlie
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July 07, 2012
The arrogance of Kurt Stuenkel and his FMC cronies are unmatched in this community. Power to RRMC, fight for what is right.
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pnutmama
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July 07, 2012
All I can say is GOOD for John Q. It is well past time for SOMEBODY to stand up to FMC & their overpaid; greedy executives. Whoever it was that said FMC was trying to buy the state...you are certainly right. They just push & bully their way around...their customer service stinks, their care is AWFUL...but yet they just keep on growing...it is kind of like a giant cancer that no amount of treatment seems to be able to cure. To John Q & the staff of RRMC. THANK YOU FOR YOUR PROFESSIONAL CARE & ATTITUDE. Your organization is first class.
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2broketramps
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July 07, 2012
Certainly did not seem like inappropriate comments to me. Simply reasonable questions any taxpayer deserves to know the answers to.
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themorrigan
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July 07, 2012
Taxpayers own FMC. Redmond is part of a for-profit national chain.
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Prossarian
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July 07, 2012
Sounds like Steunkel is trying to run a little interference here with the commission since Quinlivan was able to discuss this with the commission thoroughly during the candidates forum. If you read the letter that Steunkel sent to the commission candidates, he used a lot of innuendo concerning HCA's status in the community, even stretching to make it sound as if HCA may sell out tomorrow. These of course are nothing more than feeble attampts to divert attention away from reality. FMC has stretched it's mission outside of Floyd County into Polk. Call it whatever you wish, but this was nothing more than FMC trying to act a a corporate raider itself. The bad thing is FMC using Floyd County taxpayer bonds to finance outside operations. Shouldn't be done no matter what history FMC has of repaying these bonds. In this tender economic environment it wouldn't be unthinkable that these bonds could fail, and if they did, who would be on the hook then? The Floyd County Taxpayers would be on the hook for FMC's operations in POLK COUNTY! It is true that HCA is responsible to the stock holders, it is true profit is returned to the stockholders. Very little remains in Redmond for expansion, growth, advertising and employee retention, however Floyd's revenue stream returns to FMC and pays big old fat cat salaries for the management staff and allows gross amounts of advertising within the community.

Hey RN-T, why don't you do a salary comparison of CEO's? Every dog has his day and eventually the truth will catch up to Uncle Stuenkel.
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4lowertax
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July 07, 2012
Raider? No I feel it was one of thoseTax exempt corp.policy # 562145874512365545632--> SPEND IT OR LOSE IT NEXT YEAR. you know, the same policy that all of our government branches use!
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4lowertax
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July 07, 2012
As a tax payer, I have questions also! I am no way affiliated with the medical field, just a floyd county tax payer.why are we funding clinics and hospitals in surrounding areas if floyd hospital is in debt? Why is floyd hospital a non profit if the ceo and other officers make a king ransom, should'nt they make a reasonable salary and help fund the debt of the not for profit hospital? Isnt the idea of not for profit to be able to support the community and keep cost down on people that cannot afford to pay heathcare cost? why dont we take the extra money we are putting on buying out the whole state and give it back to the taxpayers who really fund the operation and get a ceo that can run the hospital and maintain the not for profit with a decent salary. Maybe we can hire the gordon hospital director since they do a remarkable job!
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