Word: profitable
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Dates: during 1980-1989
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...does not appear too nervous about that problem. It intends to offset the slightly lower profit margin by getting more customers and hanging on to them longer. Currently the company loses about 40% of its customers annually because of MCI's long and cumbersome access codes or occasionally poor connection quality that is due to inadequate switching systems. Those difficulties should ease with equal access to local tele phone systems...
...best decisions, because very often we have to seek advice from as many people as we can. We don't know all the answers," he explains. This process was most evident recently when the University considered a proposal from Professor of Biochemistry Mark Ptashe to set up a profit-making genetic engineering company within the University. After extensive consultation within the Faculty and with experts inside and outside Harvard, the idea was rejected...
...addition, McLean is hoping to get a private company to build one or more new buildings on the hospital's 150 acre grounds. This is attractive because profit-making companies have more borrowing power than non profit institutions and would take any liability off the hospital...
Last fall doctors opposed the sale with a variety of philosophical objections based on their belief that teaching and research cannot be done properly in a for-profit hospital. They fear that financial considerations may limit their work. Doctors also complained that they were excluded from the decision making process and were-unsure that the trustees had the best interests of the hospital at heart...
...most outspoken critics of teaching hospitals affiliating with for-profit companies is Dr. Arnold Relman, editor of the New England Journal of Medicine. He acknowledges that outright sales or lease arrangements like McLean is considering may help hospitals in the short run, but he fears the long term implications of people concerned with maximizing profits having a hand in administering teaching and research. He said that hospitals like McLean should avoid deals such as the one being discussed and that the government should take a more active role in supporting teaching and research...