Word: snyderman
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Dealers like Meyers and his partner Evan Snyderman are setting up shop at fairs such as Art Basel in Basel, Switzerland, and its newer outpost in Miami, which two years ago spawned a smaller venue called Design Miami. The major auction houses such as Sotheby's, Christie's and Phillips de Pury are cashing in too, staging big sales of 20th and 21st century design. The Christie's December 2006 sale of 20th century decorative art and design--the largest of the season--raked in $23.7 million, breaking all records...
...second floor of the Duke Clinic, Dr. Ralph Snyderman is making rounds. That would be nothing special if he didn't run the place. Snyderman is chancellor of Duke University Medical Center, so for him to be looking in on patients is a bit like Bill Gates debugging code on a Windows program. Still, it's something he does one month every year, usually in June, like most other doctors at Duke. Right now he's checking on the progress of James McAllister, 73, who has a spinal tumor. McAllister is doing well enough to leave a high-cost intensive...
That's how Snyderman has to think. As Duke's CEO, he's both doctor and businessman. More than that, he's the chief visionary behind Duke's risky refashioning of itself as a health "system," one he's gambling will prove profitable enough to subsidize Duke's money-losing missions in teaching and research. Once, Medicare payments and privately insured patients paid for everything, no questions asked. Now HMOs question everything. The Balanced Budget Act, passed by Congress last year, will mean big cuts in Medicare payments, which, when added to the pervasive weight of managed care, threaten...
...What Snyderman is doing is not unique, but it is much talked about in medical circles. If it works, he's a genius. If it doesn't, Duke could go the same route as the University of Minnesota, which sold its hospital, or the University of Pennsylvania, which reported a $40 million deficit this year. Much of the money for the expansion comes from borrowing--$280 million. But Snyderman is convinced that growth will pay off, in no small part by making Duke the hospital of choice for enough patients and doctors that it can obtain more favorable contract terms...
...doubt that Duke needed to change in order to survive, but to some doctors Snyderman represents a shift of power from the stethoscope to the calculator. In 1993, he replaced a longtime department chair with a doctor who also held an M.B.A. A group of dissidents petitioned Duke's board of trustees protesting the changes. But Snyderman survived, and last May his contract was extended again for five years...