U.S. hospital admissions weakest in a decade: Citi analyst
(Reuters) - U.S. hospital admissions in November were the weakest in more than a decade, under pressure from a change in reimbursement rules for Medicare patients and confusion tied to the problem-ridden rollout of Obamacare, according to a survey by Citi Research.
New billing rules for the Medicare program for the elderly and disabled require hospitals to treat patient stays lasting less than "two midnights" as an outpatient visit.
"In addition, it is reasonable to conclude that the cumulative impact of changing physician employment and payment models is beginning to play a role, as well as the paralyzing effect of the impotent Obamacare rollout," Citi analyst Gary Taylor said in a report.
Hospital inpatient admissions in November fell to their weakest level in more than a decade, based on responses to the bank's monthly survey of 98 hospitals, Taylor said.
In October and November combined, admissions were down 4 to 5 percent from a year ago, which will likely weigh on hospital operators' fourth-quarter earnings and 2014 forecasts, he said.
Shares of hospital operators, which have climbed throughout the year on an expected increase in demand for healthcare when the health reform law kicks in, slumped on Tuesday afternoon. HCA Holdings Inc fell 2.9 percent to $45.81, Community Health Systems Inc declined 2.9 percent to $38.11, and Tenet Healthcare Corp was down 1.9 percent at $39.80.
(Reporting by Susan Kelly in Chicago; Editing by Leslie Adler)
- Tweet this
- Share this
- Digg this
- Govt considers ban on e-cigarettes, sale of single smokes
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- India's fiscal deficit in H1 almost 83 pct of full-year target
- Muslim men over 50 pray at Jerusalem's Aqsa mosque amid tight security
- Air strikes hit Kobani as Kurdish peshmerga prepare to enter
U.S. Ambassador to the U.N. Samantha Power on Friday defended federal guidelines for monitoring health workers returning from three Ebola-stricken West African countries and praised the airlines still flying there. Full Article
'Disastrous' health campaign feeds Pakistan's worrying polio spike. Full Article