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Clarian moves forward with downtown expansion

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Year In Review

Clarian Health, after the 2008 financial meltdown forced it to halt its aggressive building campaign, put the hard hats back to work in 2010.

The Indianapolis-based hospital system renovated its neurosurgery suites at Methodist Hospital and laid plans for a $192 million neurosciences hub across the street from the massive hospital.

The project, which would also centralize administrative workers near Methodist, would employ roughly 1,200 workers. It is slated to open in 2013.

An even bigger project at Methodist lies on the horizon: a tower with as many as 250 beds, so Methodist would have all private rooms. The project, which would cost $375 million to $500 million, would also include additional parking, office space and improvements to its utilities and streetscape. That project would not be finished until 2015.

The expansion at Methodist is part of a strategy by Clarian to draw lucrative patients from outside Indiana’s borders. Currently, only about 5 percent of all Clarian patients come from outside Indiana.

To that same end, Clarian will change its name in 2011 to Indiana University Health. IU, through its medical school, formed Clarian in 1997 as a joint venture with Methodist Hospital.

“I feel much better” than a year ago, Marvin Pember, Clarian’s chief financial officer, said in April. “We had good growth in our core business and patients across central Indiana.”

Clarian’s investments in hedge funds and credit default swaps walloped its investment portfolio in 2008, sending it plunging $633 million. At the same time, hospitals worried that the recession and high unemployment would reduce their patient volumes.

In response, Clarian halted construction on the $475 million Simon Family Tower at its Riley Hospital for Children downtown and on its 44-bed, $190 million Saxony Medical Center in Fishers.

But both projects have resumed. As the credit markets thawed, Clarian’s investments recovered in value, and the recession worries proved unfounded. Clarian’s patient volume grew 4 percent last year and another 6 percent through the first nine months of this year. The company generated an operating gain last year of $174 million.•
 

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  1. Hiking blocks to an office after fighting traffic is not logical. Having office buildings around the loop, 465 and in cities in surrounding counties is logical. In other words, counties around Indianapolis need office buildings like Keystone, Meridian, Michigan Road/College Park and then no need to go downtown. Financial, legal, professional businesses don't need the downtown when Carmel, Fishers, North Indy are building their own central office buildings close to the professionals. The more Hamilton, Boone county attract professionals, the less downtown is relevant. Highrises have no meaning if they don't have adequate parking for professionals and clients. Great for show, but not exactly downtown Chicago, no lakefront, no river to speak of, and no view from highrises of lake Michigan and the magnificent mile. Indianapolis has no view.

  2. "The car count, THE SERIES, THE RACING, THE RATINGS, THE ATTENDANCE< AND THE MANAGEMENT, EVERY season is sub-par." ______________ You're welcome!

  3. that it actually looked a lot like Sato v Franchitti @Houston. And judging from Dario's marble mouthed presentation providing "color", I'd say that he still suffers from his Dallara inflicted head injury._______Considering that the Formula E cars weren't going that quickly at that exact moment, that was impressive air time. But I guess we shouldn't be surprised, as Dallara is the only car builder that needs an FAA certification for their cars. But flying Dallaras aren't new. Just ask Dan Wheldon.

  4. Does anyone know how and where I can get involved and included?

  5. While the data supporting the success of educating our preschoolers is significant, the method of reaching this age group should be multi-faceted. Getting business involved in support of early childhood education is needed. But the ways for businesses to be involved are not just giving money to programs and services. Corporations and businesses educating their own workforce in the importance of sending a child to kindergarten prepared to learn is an alternative way that needs to be addressed. Helping parents prepare their children for school and be involved is a proven method for success. However, many parents are not sure how to help their children. The public is often led to think that preschool education happens only in schools, daycare, or learning centers but parents and other family members along with pediatricians, librarians, museums, etc. are valuable resources in educating our youngsters. When parents are informed through work lunch hour workshops in educating a young child, website exposure to exceptional teaching ideas that illustrate how to encourage learning for fun, media input, and directed community focus on early childhood that is when a difference will be seen. As a society we all need to look outside the normal paths of educating and reaching preschoolers. It is when methods of involving the most important adult in a child's life - a parent, that real success in educating our future workers will occur. The website www.ifnotyouwho.org is free and illustrates activities that are research-based, easy to follow and fun! Businesses should be encouraging their workers to tackle this issue and this website makes it easy for parents to be involved. The focus of preschool education should be to inspire all the adults in a preschooler's life to be aware of what they can do to prepare a child for their future life. Fortunately we now know best practices to prepare a child for a successful start to school. Is the business community ready to be involved in educating preschoolers when it becomes more than a donation but a challenge to their own workers?

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