Aurora Diagnostics financial trouble

the reality is 400 million dollars in debt, no profit in any quarter in over 5 years equals no chance. This company, as unfortunate as it is to the hard workers will be a distant memory soon. To be honest the industry will be stronger without us tarnishing it with revenue models and subpar dermatopathologists.

Iceberg dead ahead

 

DC can write all the dumb ass smiley faces and one letter responses while we pay him $5,000 per day plus twice that through his personal consultants and expense account. Just don't understand why we would align with such a low life.

 

I wish them well! You're way to negative

 

can not figure out why our owners sold out. everyone has sellers remorse with several resumes getting put on the street. only messages we get is to work harder and cut more costs. benefits are worse and more expensive. I can't see why this is happened to what was once a good strong company.

I'm not negative. Aurora's management is sleazy with no credibility with any of us. NONE of US. Put ads out for histology techs now, because I won't give this place more than the 2 week notice I feel it is owed.

 

Breaking News!! The Industry has forever been changed and companies are trying to adjust. This is what they think works "like it or not". The choice is yours.... but don't be fooled by other companies. Benefits suck for everyone! Thanks Obama

 

"other companies" remain insanely profitable bc of their solid business model. They don't acquire unprofitable business thru tc/pc ,
Purchase test and other bs revenue models. To put it simply you lack the quality pathologists ( especially Derm ) to compete with other companies who's focus is patient care, your focus is simply trying to acquire accounts thru lining doctors pockets. That's why you are broke and soon to be out of the game!!

 

Everyone that works here knows the end is near. Start looking now.

 

Aurora is a pretty good company. Great labs and lab people, excellent pathologists, capable and well-intended management. I like their service. They take compliance seriously, I've seen them walk away from profitable business around here that was questionable.

They have three main problems:

1) Too much debt from buying labs at (what now look like) high valuations prior to the 2013 CMS 88305 rate cut. That's on the owners. They rolled the dice and came up snake eyes.

2) Efforts of the few remaining large payors to reduce costs by consolidating their lab business with the lowest cost labs. Smaller labs are getting squeezed out by preferential arrangements with Quest and Lab Corp, for example. Aurora is better able than most to adapt, but this still a challenge, some markets more than others.

3) Vertical integration of their referral sources. Companies are consolidating dermatology and women's health practices and taking their lab business in-house. Hospitals and their labs are also consolidating.

None of these things should surprise those of us in the lab business.

Yes, Aurora has some challenges, but I suspect they'll get through them OK.

 

Nice post from management showing the only 3 items out of their control. Every purchase is disappointing with no one answering to failures. Use all the excuses you want until you figure out it all points back to poor management. Everyone know the top holds all the blame for the companies failures.

 

thanks Dan. we haven't heard from you here in a while and your memos are always so hard to decipher and interpret so it's good to know we can catch your latest nonsense on an industry message board. let's see: 1) blame others 2) blame factors beyond your control and 3) blame your inability in 4 years of doing this to present any new solutions. this company is sinking like boulder yet our ceo doesn't live here. when can i swing by and speak with you dan? what day will you be here? I think you average one visit for every 2 years in charge. yes? see you in september is it?. doors will be barred and lights turned off well before then.

 

DC and BW have been too busy handing out 10%+ pay raised to upper management, and over 20% bonuses...

How do you justify $20-50,000 annual raises plus bonuses in the same range to upper management that is disengaged? Buy people's silence? Perhaps someone has pictures?

Lucy's got some 'splain'n to do.....

 

mic drop! BOOM! this post nailed it.