Health Management shares fall ahead of "60 Minutes" segment

Fri Nov 30, 2012 11:11pm IST

Related Topics

(Reuters) - Shares in Health Management Associates Inc fell nearly 3 percent on Friday ahead of a "60 Minutes" television segment on the hospital chain's admissions practices that will air on CBS on December 2.

According to the website for "60 Minutes," the segment will investigate allegations by doctors that the hospital chain pressured them to admit patients regardless of their medical needs.

The Naples, Florida-based hospital company, which operates 70 hospitals in 15 states, said in a statement on its website that it retained "third-party experts" to examine admissions data for individual hospitals and across the company.

"The data simply do not support the allegations," it wrote.

During a conference call on Friday morning for investors, it said its admissions practices were line with industry standards.

"A Health Management review shows there is no basis for an allegation (that) admissions through our emergency department increased," Alan Levine, a senior vice president and Florida group president at Health Management, said during the call.

Levine said he was interviewed by "60 Minutes" for the segment, and in addition to discussing the admissions practices he was questioned about the company's testing procedures.

He defended its testing procedures and said Health Management followed industry standards.

Health Management has a $2 billion market capitalization and is expected to record revenues of about $6.7 billion this year. It was founded in 1977 and is focused on small to mid-sized markets.

Shares in the company fell 3 percent, or 24 cents, to $7.83, in morning New York Stock Exchange trading.

(Reporting by Caroline Humer; Editing by Jeffrey Benkoe)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Fighting Ebola

HEALTH SHOWCASE

Breast Cancer Fight

Breast Cancer Fight

Roche, Merck extend immunotherapy fight to breast cancer  Full Article 

Office Perks

Office Perks

Apple, Facebook will pay for female employees to freeze their eggs.  Full Article 

It's In The Genes

It's In The Genes

Genetic link to Danish happiness, says study.  Video 

Smoking Effects

Smoking Effects

Americans have 14 million smoking-related ailments: study.  Full Article 

Health Food

Health Food

Olive oil, nuts may help reverse heart risk factors.  Full Article 

Digital Doctors

Digital Doctors

China sees tech cure for healthcare woes.  Full Article 

Stem Cell Study

Stem Cell Study

Stem cells from human embryos prove safe, improve vision - study.  Full Article 

Shortages Impact

Shortages Impact

Shortages hinder Venezuela's battle against fever outbreaks  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage