New owners takeover LSU Hospital Oct. 1

New owners takeover LSU Hospital Oct. 1

Biomedical Research Foundation to take ownership of LSU Hospital.

On October 1, Biomedical Research Foundation assumes ownership of LSU Hospital in Shreveport and E.A. Conway Hospital in Monroe. Both were previously state-run hospitals. Biomed officials say business will run as usual and patients shouldn't experience any changes.  

A celebration is set for Oct. 1. at 10 a.m. in the atrium of the Biomedical Research Institute. Biomed will announce the hospital’s new CEO, and thank everyone for helping them with the transition in just 120 days.  

"We're here to celebrate that the jobs are secure, the hospital is secure , the safety-net mission is secure and the LSU medical school is secure,” said Jay Meyers, Vice
President of External Affairs for the Biomedical Research Foundation.

Privatizing Louisiana state-run hospitals became an issue in 2012 when the hospitals  lost about $860 million in federal funding. St. Sen. Greg Tarver, (D) – Shreveport, said  he'd much rather see the hospital being owned by a non-profit, than a private company.

"If we did not have Biomed, we would have a company for profit, a healthcare company for profit," said Sen. Tarver. "And they wouldn't be caring about people.
They'll care about the bottom line: how much profit they're going to make."

“What was formerly at risk was the medical school, the hospital, and the economic impact of those entities,” said Meyers.” They’re now going to be secure as a result of this transition.”

With the help of Alvarez and Marsal Consulting Firm, Biomedical Research was able to  takeover LSU Hospital in just four months. All employees had to reapply for their jobs.

"We think we'll be able to take most, nearly 100 percent of the people, at least 95 percent at this point, of the applicants that are going through the process," . "Then we'll
have to go out into the general public to fill the rest of the positions due to the retirement," said Steve Skrivanos, Chair of the Biomedical Research
Foundation Board.

The hospital still has 300 openings. They’re listed here.

Biomed is also looking for seven community members to serve on the hospital’s 13-member board. The board will oversee hospital operations. Applications are due by Oct. 4.  Here’s a link.



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