Saturday, September 15

Patientline's Penny Shares

Patientline the hospital bedside Telephone and TV provider who's failing commercial activities are closely monitored by this blog is due to hold its Annual General Meeting on 27 September.
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There will be a large amount of unhappy investors at the meeting next week since Patientline's shares have now reached an all time low at a fraction over a whole 1 pence each; the year high was 9.5 pence .
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One can feel sorry for the investors who have watched as Patientline's incompetent Directors and senior management throw their investors money 'down the drain' in arrogant defiance of what their customers and front line staff have been quite clearly saying to them for the past three years.
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The company dramatically raised its charges in April 2007, but adverse publicity which this blog played a key part see links below) was humiliatingly forced it to reduce prices in August. Outgoing calls went up to 26 pence a minute, this was cut back to 10 pence a minute (to BT lines only) in August. But incoming phone calls are still charged at the rip off rate of a huge 49 pence a minute. At least 10 per cent of Patientline's bedside equipment is faulty at any one time; something which causes unacceptable stress in the hospitals where patient operates.
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Staff absence due to sickness is at an all time high and resignations of key staff are a daily occurrence. This is undoubtably due to the pressure placed on staff directly as a result of the corporate operational failings of the company.
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In a recent statement the Directors confirmed they are still looking for ways to sort out the company's huge debts (one understands that sentiment) of £85 million and that '' other ideas for the reconstruction of this debt are being explored". Well, one suspects at least one disgruntled share holder will be asking at the AGM if the lacklustre board members actually understand the needs of their customers; since they give every reason of not doing so.

3 comments:

Anonymous said...

Just out of interest, how do you know that "resignations of key staff are a daily occurence"? Surely if you left the company as you claim you did, you wouldn't know this. It is generalisations and unfounded statements like this that make me question the validity of what you say.

Peter Troy said...

I know because long standing Patientline employees keep me in the picture. If Anonymous you care to read the comments section you will see one such comment from a very fed up tech employee. It is not without well based information that I made any comment on this post.

ThePinkOne said...

Peter, you are right to highlight this daylight rip-off. My father is in hospital having had a stroke- (in spite of being fit, eating all the right things and taking regular exercise etc!)). Not only are the call-charges a massive rip-off, but the TV screens are small and difficult to see- my father told me not to bother getting TV access as he cannot focus on the screen (his vision was affected by the stroke) so is listening to R4- OK the radio is free but they only have v basic analogue radio choice not digital in spite of being in a digital area so the channel choice is limited.

As to these units being hi-tech- c'mon. The design is total c**p in terms of ergonomics, my father struggles to use the device at all given his reduced vision and mobility. Even answering the phone seems to need 2 hands working properly which he does not have- this in a hospital where by definition people are not 100%...?

I live 350 miles away from my father, am his only family. I stay up there every other week- but he is bored and lonely, not exactly helping his recovery. Oh, and the units are not exactly reliable either.....