Americare ambulance having financial issue

gonefishing

gonefishing

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luke_31

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gonefishing said:
WOW! what are they gonna do for Santa Monica if they can't provide service?
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Probably just pay the bill. These companies sometimes just hold off paying certain bills because they know how long they can go without payment and it gives them time to bring in more money to be able to pay the bills
 
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looker

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luke_31 said:
Probably just pay the bill. These companies sometimes just hold off paying certain bills because they know how long they can go without payment and it gives them time to bring in more money to be able to pay the bills
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It's very serious for company to default on their bill, it impact the renewal quote and down payment. Basically for them to default on auto insurance bill is extremely serious which means they are having extremely big finance issue. It will not surprise me if they are to file for bankruptcy protection soon. Main issue with ambulance industry is medicare started paying for dialysis extremely badly. They are denying claims left and right, honestly i think industry will soon be undergoing a big change in terms of a lot of ambulance company either downgrading or completely going out of business and gurney vans becoming a big business. Unfortunately for all EMT'S they are not needed in gurney industry so that will make finding a job even more harder.
 
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Michael Anderson

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looker said:
So they were able to pay that bill but they defaulted on the next one. Now they have until 2/26/2015 to pay the previous month bill or their insurances are cancelled.
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I wonder if the City of Santa Monica and the OCFA are aware of the type of ambulance company they are doing business with....
 
Ewok Jerky

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late payment is not the same as defaulting. a lot of companies (not just EMS) operate this way. I don't know this company so I'm not defending them or saying they aren't shady but this is probly business as usual.
 
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looker

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beano said:
late payment is not the same as defaulting. a lot of companies (not just EMS) operate this way. I don't know this company so I'm not defending them or saying they aren't shady but this is probably business as usual.
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It's business as usual to have payment so late that additional insured and lost payee get noticed that insurance will soon be cancelled for no payment? They are much more then few days late on their payment. Plus for the size they are, they should have plenty of money in case something happens and they have unexpectedly extra expenses. To me this screams like this company is hold on for dear life and trying to keep going.
 
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Michael Anderson

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So I heard from a friend who works there, that their newly hired Director of Communications resigned yesterday after only being there a month. I wonder what he found out that made him leave so quickly.
 
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looker

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Mufasa556 said:
So, yesterday was the day. Did they pull it off?
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They probably did but it takes ladot few days to update their system so should be clear next week. I haven't seen anything on the news about 911 company shutting down being it would be big news. Bigger questions what happens next month and after that. Eventually city like Santa Monica might tell them that they are not upholding their contract and put in new bid for 911 provider.
 
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looker

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They are at it again. Americare insurance is now set to expire 5/25 unless they pay past due amount. Can't link it as city la website is having issue. If i remember correct they are owe like 150k in past/current payment. Basically they continue having major financial issue. I wonder how long before city's start dropping them as 911 provider.
 
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