Freese Decker is likely assured a big pay increase and bonus. Spectrumissued a statement to MiBizabout the disastrous financials reminiscent of the spin Fox served up during his seven-year tenure. Even Beaumont employees suffering from myopia can read this writing . John Kerndl, who joined Beaumont in 2016, quit in March. Whats notable about Foxs disclosure is the seeming priorities of Spectrum compared to Advocate Aurora, the Chicago-based hospital system that Fox tried to give Beaumont away to in June 2020 under terms so obscenely favorable to Advocate Aurora, he couldnt pull it off. A responsible board would have fired Fox months ago and brought in an interim CEO with strong ties to southeastern Michigan to try and stabilize the place. Susan Grant, the chief nursing officer for all of Beaumont, has her primary home in Atlanta. Theres no prestige working at Beaumont anymore. Spectrum, with $6.9 billion in revenues, operates 14 hospitals in the western side of the stateand has 30,000 employees. Eight will come from Spectrum, including Freese. Disparities in healthcare are typically blamed on racism of U.S. doctors and other health professionals. Spectrums takeover must be approved by Michigan Attorney General Dana Nessel and the Federal Trade Commission. This is Beaumont's latest attempt to merge with another hospital . The head of Beaumonts audit committee was Julie Fream, who earlier this month became the hospital networks chair and has no auditing experience or background listed on her LinkedIn page. The once proud and respected hospital system merged with two lesser ones in 2015, paving the way for Fox, who was determined to sell Beaumont from the moment he arrived. Still, Beaumont is clearly going to be a financial albatross on Spectrums operations for quite some time. 'The Week That Was:' Will Kristina Karamo Seriously Damage Michigan's Republican Party? Ive been looking for the past week and have not located them. Those workforce headwinds should have been known to Freese Decker well before she took over Beaumont. Freed has vowed he will hold Spectrums directors accountable for the repercussions to his Grand Rapids community. 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. Its reasonable to assume the real reason for Freams elevation was the board knew Fox was close to inking a deal with a merger partner. By Eric Starkman Beaumont Health CEO John Fox has no shame. Bloomberg on Wednesday posted an editorial warning about the growing merger trend among hospitals, noting that it leads to higher insurance prices. Spectrums previous head of diversity was Ovell Barbee, an African American, who Spectrum proudly announced last April was named one of the leading diversity executives in the country. The writer, a Los Angeles freelancer, is a former Detroit News business reporter who blogs at Starkman Approved. Fox that year was paid $5.9 million. Eric Starkman of Los Angeles is a former Detroit News business reporter who blogs at Starkman Approved.. By Eric Starkman. 'The Week That Was:' Will Kristina Karamo Seriously Damage Michigan's Republican Party? September 15, 2020, 9:36 PM . Freed is seemingly unaware of how desperate Beaumont CEO John Fox is to find a merger partner and complete the sale before year-end. Spectrum no doubt knew that Fox was desperate to unload Beaumont, so Freese Decker had him by the cajones. 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. Its a no-brainer to understand why Fox desperately needs to pull off the Spectrum merger. The evidence is overwhelming that when hospitals merge, prices go up. Spectrum and Beaumont are not corporate equals. BHSHs management team is comprised entirely of Spectrum executives, except Beaumont Royal Oak president Nancy Susick, who has been named interim president of what is being called BHSH Beaumont Health. Studies show that when hospitals combine, healthcare prices increase while patient quality declines. 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. Spectrums financial statements indicate that cash and investments from the acquisition was $3.2 billion. Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. With regards to healthcare, Nessel is a do-nothing attorney general who has stood idly by as Fox drove Beaumont into the ground and is expected to rubber stamp Spectrums takeover. The only aspect of the deal worth cheering about is that Fox will finally be removed from Beaumont, but the company shouldnt have to lose its independence to make that happen. Beaumont Troy also operates at a reduced capacity. 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. A source told me that Barbee was highly regarded among Spectrums Black employees but was frustrated by his inability to achieve meaningful change. Despite the pandemic, which has forced Spectrum to call for military assistance to support its flagship hospital, CEO Tina Freese Decker recently disclosed that shes been focused on integrating Spectrum and Beaumont, creating Michigans biggest hospital system as well as the biggest employer. Beaumont CEO Fox and COO Wilson Must Go Now! Spectrum was projecting a loss of $57.1 million, which . Ohios AG has won a series of landmark settlements taking on healthcare companies. The FTC decision to implicitly rubber stamp Spectrums takeover underscores the weakness of President Bidens leadership and the little respect he commands, even among his own appointees. Turns out Beaumonts reported $4 billion reserve also dwindled by the time Fox turned over the keys to Freese Decker. Beaumont Dearborn also is receiving military assistance to help the hospital manage its Covid patient load. Even if the executive couldnt restore Beaumont to its former glory, he or she could at least have minimized the damage and fetched a higher price for the hospital network than whatever Fox has negotiated. Hiring nurses for Henry Fords flagship Detroit hospital is a more formidable challenge because some candidates fear working in Detroit. Beaumont spent nearly $2 million on union busters when nurses at the Royal Oak hospital attempted to organize in 2019. Spectrums prices are higher than Beaumonts, as the hospital network has significantly less competition in western Michigan. The quality of care has declined to such a degree that insiders readily admit they wouldnt entrust their families care to the hospital. Spectrums due diligence team will be unable to get clarifications on Beaumonts financials from the companys CFO because it doesnt have one. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, a month membership or a one-time donation, 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, Andy Levin Goes After Amazon's Union Busting in Alabama, but Silent About Beaumont. He's even willing to. Fox said Beaumonts lack of private rooms is a large critical area that has haunted us for decades. He said a comprehensive expansion plan would be finalized by year-end. Despite warning the pandemic would destroy U.S. hospitals, Beaumont overall had a very good year in 2020, increasing its reserve by $1 billion to $3.5 billion. Why would Beaumont nurses want to remain on staff when they can make more money working at a staffing agency? Fox and spinmeister Geary have a history of making statements that are deceptive and misleading, a compilation of which can be found here. Michigan Gov. Given that a survey of Beaumont doctors revealed last year they had no confidence in Fox, Wilson, and chief medical officer David Wood Jr., recruiting top quality executives to Beaumont is a near impossible challenge with Fox and Wilson at the helm. To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. June 17, 2021, 9:36 PM . Six months into Freese Decker's acquisition of Beaumont Health from former controversial CEO John Fox, metro Detroit's biggest hospital system is suffering from a pandemic of red ink. Beaumont Health CEO John Fox, the Atlanta carpetbagger who destroyed the companys flagship Royal Oak hospital while pocketing more than $20 million for himself, appears close to pulling off what he set out to do from the moment he arrived in Metro Detroit six years ago: Merging southeastern Michigans biggest hospital network out of existence. Maybe they dont teach this at the University of Iowa from where Freese Decker received her Master of Health Administration, but when a hospital spends nearly $2 million as John Fox did to intimidate nurses at his flagship Royal Oak hospital and derailed a unionizing attempt, it creates bad blood. Beaumont at one point claimed to have 38,000 employees, but with layoffs and unfilled positions its not clear how many employees remain. Virtually all of Fox's senior management team resigned or was . It seems unlikely that Beaumont would embark on a major expansion without the input and signoff of Spectrum, which is awaiting regulatory approval to take over the faltering Southfield-based hospital system. As Deadline Detroit recently reported, Beaumonts once-bustling endoscopy suite, where a patient died undergoing a routine colonoscopy in January, has suffered a rash of nurse resignations and can barely operate at 50 percent capacity. Also fostering ill will is Beaumonts mandate requiring that all employees be vaccinated or be fired. That Fream will serve as chair of the board overseeing a combined Spectrum and Beaumont is a disgrace and underscores Michigans poor leadership. Beaumont derailed the effort after spending nearly $2 million on union busters, furthering ill will among its nurses. This is a good time to give a shoutout to former Beaumont chair John Lewis, who at the end of the day bears the greatest responsibility for the hospital systems decline. Beaumont Royal Oak is a Level I regional hospital, which according to the American Trauma Society means it is required to have 24/7 staffing available to provide total care for every aspect of injury from prevention through rehabilitation. Less readily understood is why Spectrum would want to do a deal. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, Tina Freese Decker, Spectrum president and CEO, a month membership or a one-time donation, 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, Andy Levin Goes After Amazon's Union Busting in Alabama, but Silent About Beaumont. The FTC has a backlog of merger applications, and it could take months before it decides on the Spectrum/Beaumont deal. The Michigan Nurses Union vowed it would no longer seek to organize at Beaumont because of the companys climate of fear.. It marks the passing of a once great hospital system, and the creation of a giant Michigan hospital network Spectrums former CFO Michael Freed has warned could result in a , Spectrum Moves Forward with Beaumont Takeover, Beaumont Expects Imminent FTC Approval For Spectrum Takeover Of Its Faltering Hospital System, Good News From Beaumont Hospital Network To Spend 'Significant Dollars' to Expand Private Room Capacity, Beaumont Foxs Thanks to Hospital Docs: Let Them Eat A Cookie., Beaumont Faces Threat of Nurse Anesthetists Strike Over Declining Patient Safety Standards, Bad News for Beaumont -- CEO John Fox Sticking Around Longer Than Expected, CEO John Foxs Michigan Legacy? Wright Lassiter III, president and CEO of Henry Ford Health System, is chair of the AHA. 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