Thursday, February 08, 2007 Truth behind the sale of Riverside hospital, college
THE president of the Riverside Medical Center Inc. (RMCI) clarified Wednesday the issues raised by one of the local dailies in Bacolod City on the possible sale of the Dr. Pablo 0. Torre Sr. Hospital.
In a statement sent to Sun.Star Wednesday, RMCI President Joaquin L. Torre said "we are not denying the fact that we are selling the hospital - if the price is right. However, let it be understood that we are selling the hospital, not because we are cash-strapped or that we cannot meet our obligations to our banks or financial institutions, suppliers, employees and our maintenance costs."
"We are businessmen, first and foremost, with a social conscience. We have granted several hundred scholarships through the years, donated hospital equipment to government clinics and religious organizations, conducted many medico-dental missions with free medicines and granted free hospitalization and free medicines to needy and indigent patients," the statement also read.
According to Torre, the RMCI is in a very sound financial condition "as evidenced by our cash and stock dividends given to our stockholders, through the years. Our return on investments are very favorable and we are considered one of the best hospitals in the country."
Torre added, "Should a sale push through, we will see to our employees' needs.
Our late father's legacy is that we always take care of our employees and we will always stand by them, through thick and thin."
He belied allegations that after the sale of the hospital, the Torre family members will choose to settle abroad.
"This is not our plan. Only two of our brothers have chosen to live and work abroad. The six of us who are here today do not have any intentions of living abroad. We may go on vacations but certainly we will live in Bacolod City," the statement also read.
As for the issue of changing the name of the hospital, this will reportedly be the prerogative of the possible new owners.
"We employ almost 1,000 hardworking individuals. We have 600 in the hospital and over 300 in Riverside College whose dependents of over 5,000 rely on the institution for their sustenance and well-being. The monetary and hospital benefits of all our employees testify to our commitment to the welfare of our employees and their dependents," the statement further read.
"A report expressed that the hospital is very expensive. This is a matter of opinion. When you are buying a Mercedes Benz, will you pay the owner the price of a tricycle?" it also stated.
Torre also pointed out that the RMCI have wards where the charges are minimal.
These wards include the lying in services where patients are charged only P500 for normal deliveries. The amount does not include though the cost of the vaccines for the baby.
"Our social services office attends to scores of mothers weekly, who are attended to by our Medical Social Worker and her staff. Another example is our endoscopy examination for patients suffering from gastro-intestinal diseases.
This process used to cost P2,500.00 but today only P300," the statement read.
Torre also pointed out in the statement that the RMCI have other services which greatly benefits the low-income or underprivileged groups.
"There are instances where the patient may not be able to pay the cost of medicines and hospitalization, they are referred to the Dr. Pablo 0. Torre Foundation Inc. who shoulders a good portion of the cost while the needy patient only pays a minimal amount. This is possible because of the close working relationship between the hospital and our nursing school," he added.
Torre concluded, "We wish to assure all our clientele that the Dr, Pablo 0. Torre Memorial Hospital will continue to grow and improve its services - even with different owners. The goal to provide world-class services and facilities to everyone, regardless of their station in life will continue to be its driving force."
Dr. John Ledesma, a prominent diplomate and fellow of the gastro-enterology field, who is also a member of the Board of Trustees of the hospital, also said that "the hospital may well be considered as the No.1 hospital in the region and its present facilities is comparable with the best hospitals in the country."
"To the best of my knowledge, there are only two hospitals in Metro Manila who have better facilities. To the hospital's credit, many of the physicians in this hospital do not charge any consultation fees to indigent patients and even give out free medicines," he also said.
