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  • fullcount_1999 fullcount_1999 Dec 30, 1999 8:45 AM Flag

    Question?

    There was an article in the NY Times this past
    Tuesday on WHC's Psyc. Hospital. Overall it was positive
    on the progress that WHC has made, but it was
    uncertain/doubtful as to it's profitability.

    The behavorial
    health business has crept into the private corrections
    business, and when it is done on an outpatient or more
    moderate scale (as to the type of facility), it has pretty
    decent profit margins. However, I don't think running
    the large phyc. hospitals work well because of the
    very high overhead and cost of these large phyc.
    hospitals (i.e. most of these type of facilities were build
    back in the days of receiving $1000-$2000 per day for
    a client, and most of those days are
    gone).

    However, the real question for WHC (if they indeed want to
    grow in this area) is if they can either purchase one
    of these facilities for pennies on the dollar, or be
    able to build a more cost effective facility (which is
    something the private corrections industry has a good
    reputation with in the prison side).

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