HMA Stock Plummets 6% in Wake of "60 Minutes" Story
Health Management closed the day at $7.50 per share, down from $7.95.
"60 Minutes" aired a segment Sunday that focused on alleged emergency department practices and Medicare fraud at hospitals owned by Health Management. Several former ED physicians said Health Management executives allegedly had inpatient admissions quotas for ED patients, and Health Management's former director of compliance alleged the chain was committing Medicare fraud as well.
Health Management fired back before the segment aired as well as yesterday, saying the news program "relied entirely on disgruntled former employees…and former contracted physicians" who are currently embroiled in lawsuits with the company. Health Management officials also said they have conducted internal investigations into the matter and are complying fully with an investigation from the Department of Justice based on the allegations of Medicare fraud.
More Articles on Health Management Associates:
© Copyright ASC COMMUNICATIONS 2017. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.