GenesisCare filing for bankruptcy

[sirspamalot]

Necrobump. Anyone got any inside info on what is happening with GC? I mean, other than the CEO buying another mansion?

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[theradiator]

Tell your kids to go into private equity instead of medical school?

 

[OTN]

Tell your kids to go into private equity instead of medical school?

Lots of my friends from upper-middle class families went to medical school.

None of my friends from truly wealthy families went to medical or law school. Finance degrees. Every one of them.

 

[deleted1111261]

Lots of my friends from upper-middle class families went to medical school.

None of my friends from truly wealthy families went to medical or law school. Finance degrees. Every one of them.

Fleishman Is In Trouble touches on this

People in the upper upper class don’t do this type of work. You think a Soros or a Trump is gonna have half a fist up the bunghole when they can just leverage and exploit?

No Parikh that descends from my line will engage in this type of “manual labor”! Unless they want to. Then they can.

 

[RadOncDoc21]

Lots of my friends from upper-middle class families went to medical school.

None of my friends from truly wealthy families went to medical or law school. Finance degrees. Every one of them.

Most of my friends where I’m from are either dead or in jail…obviously, I grew up in a very different environment!

 

[theradiator]

So true. The true heroes of our economy are the capital allocators and their accountants and lawyers that protect their assets from the tax man.

 

[Fpg1245]

So true. The true heroes of our economy are the capital allocators and their accountants and lawyers that protect their assets from the tax man.

Been this way since the 80s.

The heros are the so called “risk takers” but only certain risk takers and not the ones that do actual work in the real economy.

 

[Lamount]

I've had quite a few old money friends from undergrad and grad school.... and, given the choice, I would choose my life over theirs, without even thinking twice.

It is very hard to be happy and fulfilled when you have everything you want without having to work for it. After all, what's the point in doing... anything?

 

[medgator]

So true. The true heroes of our economy are the capital allocators and their accountants and lawyers that protect their assets from the tax man.

Doing god's work

Goldman Sachs boss says banks do "God's work"

The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work."

www.reuters.com

 

[Fpg1245]

Doing god's work

Goldman Sachs boss says banks do "God's work"

The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work."

www.reuters.com

The serve a purpose but at the unnecessary and often parasitic expense of everyone else.

 

[Ray D. Ayshun]

Doing god's work

Goldman Sachs boss says banks do "God's work"

The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work."

www.reuters.com

I agree. But I'm not being complimentary of banks.

 

[HolySmokes]

I've had quite a few old money friends from undergrad and grad school.... and, given the choice, I would choose my life over theirs, without even thinking twice.

It is very hard to be happy and fulfilled when you have everything you want without having to work for it. After all, what's the point in doing... anything?

Maybe you're a better person than I am but I would 100% take the old money life. I'm certain I can find ways to be happy and fulfilled as a multi-millionaire who doesn't have to work.

 

[grenz]

Fleishman Is In Trouble touches on this

People in the upper upper class don’t do this type of work. You think a Soros or a Trump is gonna have half a fist up the bunghole when they can just leverage and exploit?

No Parikh that descends from my line will engage in this type of “manual labor”! Unless they want to. Then they can.

The real rich kids start businesses and say they earn what they have…except that they never admit their trust fund is a giant safety net if the business fails.

 

[medgator]

Maybe you're a better person than I am but I would 100% take the old money life. I'm certain I can find ways to be happy and fulfilled as a multi-millionaire who doesn't have to work.

McKenzie bezos seems real happy

 

[Fpg1245]

McKenzie bezos seems real happy

any twists and turns her life took post getting rich short of being diagnosed with a terminal illness was gonna turn out just fine.

 

[medgator]

The serve a purpose but at the unnecessary and often parasitic expense of everyone else.

We don't really need vampire squid imo

 

[OTN]

Banks are critical to a functioning economy. We just need to bring back the Glass-Steagall act to Make Banking Boring Again.

 

[Fpg1245]

Banks are critical to a functioning economy. We just need to bring back the Glass-Steagall act to Make Banking Boring Again.

Cats out of the bag with that one. GS act never coming back. Big finance would basically crash the economy on purpose if it came back.

 

[OTN]

Cats out of the bag with that one. GS act never coming back. Big finance would basically crash the economy on purpose if it came back.

Regulatory capture is one of the the biggest problems facing our economy at the present. Well, that and the fiscal cliff towards which we are racing at light speed.

 

[deleted1111261]

Regulatory capture is one of the the biggest problems facing our economy at the present. Well, that and the fiscal cliff towards which we are racing at light speed.

100%

Proton lobby groups are literally writing proton policy

 

[Fpg1245]

100%

Proton lobby groups are literally writing proton policy

Probably one of the few pro RT policies out there. 😂

 

[deleted1111261]

Probably one of the few pro RT policies out there. 😂

That’s fair!!

 

[SneakyBooger]

Lots of my friends from upper-middle class families went to medical school.

None of my friends from truly wealthy families went to medical or law school. Finance degrees. Every one of them.

The wealthiest of my friends are plumbers.

 

[TheWallnerus]

Ah memories

 

[medgator]

Ah memories


View attachment 373120

And the cycle continues

 

[thecarbonionangle]

The wealthiest of my friends are plumbers.

The wealthiest of my friends are business owners. Sadly for most of us this will never happen in the environment our “leaders” have birthed.

 

[sirspamalot]

I wish someone (disgruntled) at 21C/GC/FUBAR would spill the photons.. very curious to hear whats gunna happen.

 

[RickyScott]

I wish someone (disgruntled) at 21C/GC/FUBAR would spill the photons.. very curious to hear whats gunna happen.

I dont know what there is to spill. Large debt load and Wally pissed off a lot of their docs with large patient loads.

 

[deleted1111261]

I dont know what there is to spill. Large debt load and Wally pissed off a lot of their docs with large patient loads.

That’s the spilling! Any more ??

 

[theradiator]

Only indirectly related to bankruptcy but anyone know why a PPS exempt center would apply FAST FORWARD data to mastectomy patients only to cause breast reconstruction complications? For the record, there were barely any mastectomy patients on the trial and even fewer implant reconstructions.

 

[TheWallnerus]

Only indirectly related to bankruptcy but anyone know why a PPS exempt center would apply FAST FORWARD data to mastectomy patients only to cause breast reconstruction complications? For the record, there were barely any mastectomy patients on the trial and even fewer implant reconstructions.

Because if they hadn’t used five fractions patient would go elsewhere?

 

[RickyScott]

Because if they hadn’t used five fractions patient would go elsewhere?

You can be sure that the patients didn’t live across the street.

 

[RickyScott]

That’s the spilling! Any more ??

I don’t have inside knowledge but sounded like Wally/Australian management didn’t like docs having 80 patients on beam earning well over 7 figures.

 

[Fpg1245]

I don’t have inside knowledge but sounded like Wally/Australian management didn’t like docs having 80 patients on beam earning well over 7 figures.

They like their slaves plentiful and cheap....and also not about to make their bonuses.

 

[RickyScott]

They like their slaves plentiful and cheap....and also not about to make their bonuses.

I would much rather earn 400-500 at a university, with ,all the benefits and job security than deal with the uncertainty and constant hustle for 200k more at 21c.

 

[Tigerstang]

I would much rather earn 400-500 at a university, with ,all the benefits and job security than deal with the uncertainty and constant hustle for 200k more at 21c.

"benefits"

Indeed

 

[RickyScott]

"benefits"

Indeed

Main benefit is stability. If you kiss butt and maybe put out a DEI paper or 2, I bet it is very difficult to ever loose your job.

 

[deleted1111261]

I've never worked academic, but I feel like most community hospital jobs are like this, with more pay and less responsibilities to do stuff. I feel like this used to be one of the worst options - this is how I ordered it in my head when I graduated.

1. Freestanding private
2. PSA community hospital
3. Employed academic satellite that pays like community
4. Employed community hospital
5. Academic satellite that pays academic
6. Academic job

Now, 3 doesn't exist. 1 is tenuous and works well in some places, terrible in others. 2 only works with high volume - I would be a poor if I did that here. I think employed at a hospital with a base plus model ends up being what most of us stumble into.

I know there are many truly horrendous stories, but there is something still happening. I don't get it. We will never return back to the golden era, but hospitals are ponying up. All 3 grads at one of our local programs are starting at >2x my first year starting salary. The grad from another nearby program had an offer of 600 not terribly far from Detroit (not a great job, but $$).

Anybody else's finger on the pulse? I am hearing mid career basing at 6 in decent cities.

 

[sirspamalot]

LOL. #2 the key is, repeat after me kids, "1099 or GTFO" and whether its a community hospital, extended locums, academic satellite, it really matters not.

You LIKE giving up 15% tax efficiency? WTF. For a ****ty healthcare plan or some bs "vest in 3 years" retirement plan that matches 3% and puts your money in limited choice high cost funds controlled by your employer?

5-6 W2 in a major city where you are overworked, stressed, micromanaged by dickheads and can get replaced in a heartbeat?

 

[NotMattSpraker]

\

I've never worked academic, but I feel like most community hospital jobs are like this, with more pay and less responsibilities to do stuff. I feel like this used to be one of the worst options - this is how I ordered it in my head when I graduated.

1. Freestanding private
2. PSA community hospital
3. Employed academic satellite that pays like community
4. Employed community hospital
5. Academic satellite that pays academic
6. Academic job

Now, 3 doesn't exist. 1 is tenuous and works well in some places, terrible in others. 2 only works with high volume - I would be a poor if I did that here. I think employed at a hospital with a base plus model ends up being what most of us stumble into.

I know there are many truly horrendous stories, but there is something still happening. I don't get it. We will never return back to the golden era, but hospitals are ponying up. All 3 grads at one of our local programs are starting at >2x my first year starting salary. The grad from another nearby program had an offer of 600 not terribly far from Detroit (not a great job, but $$).

Anybody else's finger on the pulse? I am hearing mid career basing at 6 in decent cities.

#3 definitely exists in several networks. It seems more likely when people leave private/community practice to go to the academic satellite. Although, I know one center and pair of leaders that seem to think people should take pay cuts to go work for them Delusional.

 

[deleted1111261]

LOL. #2 the key is, repeat after me kids, "1099 or GTFO" and whether its a community hospital, extended locums, academic satellite, it really matters not.

You LIKE giving up 15% tax efficiency? WTF. For a ****ty healthcare plan or some bs "vest in 3 years" retirement plan that matches 3% and puts your money in limited choice high cost funds controlled by your employer?

5-6 W2 in a major city where you are overworked, stressed, micromanaged by dickheads and can get replaced in a heartbeat?

Please tell me how i can treat 8 patients a day on a 1099 at a rural hospital and make more money than i do now - including tax benefits you speak of. Honestly. I'm looking at collections. My family would starve.

 

[sirspamalot]

Grasshopper: You misunderstand. I never said anything about collections. I haven't done my own collections since 2009.

You get paid on a flat rate PSA. After all, no you .. no department. If its a solo shop, it creates leverage. If its that AND a rural location, its incredible leverage.


You know what my favorite flavor is?

YESSIR ITS LEVERAGE. Its even better than chocolate.

 

[deleted1111261]

Grasshopper: You misunderstand. I never said anything about collections. I haven't done my own collections since 2009.

You get paid on a flat rate PSA. After all, no you .. no department. If its a solo shop, it creates leverage. If its that AND a rural location, its incredible leverage.


You know what my favorite flavor is?

YESSIR ITS LEVERAGE. Its even better than chocolate.

I'm misunderstanding. The PSAs I am aware of go by collections. Maybe I don't understand the terminology?

 

[Ray D. Ayshun]

I'm misunderstanding. The PSAs I am aware of go by collections. Maybe I don't understand the terminology?

They can go by whatever. Base, collections, RVUs.

 

[NotMattSpraker]

Grasshopper: You misunderstand. I never said anything about collections. I haven't done my own collections since 2009.

You get paid on a flat rate PSA. After all, no you .. no department. If its a solo shop, it creates leverage. If its that AND a rural location, its incredible leverage.


You know what my favorite flavor is?

YESSIR ITS LEVERAGE. Its even better than chocolate.

You should talk to people in a PSA in a competitive market. They vaguely remember the concept of leverage but haven't talked about it since they became employed.

 

[deleted1111261]

They can go by whatever. Base, collections, RVUs.

Ah. I thought RVU meant employed.

 

[Ray D. Ayshun]

Ah. I thought RVU meant employed.

Just a service agreement with some sort of compensation metric. You could even arrange so that they pay med mal, health insurance, and find coverage.

 

[deleted1111261]

Just a service agreement with some sort of compensation metric. You could even arrange so that they pay med mal, health insurance, and find coverage.

That sounds like .. employment for me

 

[Ray D. Ayshun]

That sounds like .. employment for me

We're all somebody's B. But, there are perks. No corporate training modules, and you can dump money into retirement with a PSA. That said, I'd rather have my 911 now while I'm young...

 

[sirspamalot]

Independent Professional Services Agreement. They agree to pay you Y per month, Y x 12 per year. Maybe throw in also a 4 or 5 week vacation coverage (ie your locums coverage when you are really away on vacation).

RVU? Lol.

You provide your own medmal, set up your own health ins, and do your own retirement plan. Nobody can mess with them, and you can form a group (of 2 people!) and boom, you have access to the "good" insurance (e.g. BCBS).

There is just so much more.. but suffice it to say:

Once you go into 1099 land, you will never want to leave..