Hospital Operator Stocks on the Rise After Medicaid Extension Package Moves Forward
August 05, 2010
The share prices for hospital operators rose yesterday after a Senate cloture vote moved the $16 billion Medicaid extension package closer to a vote, according to a Wall Street Journal report.
The legislation, which could be voted on as early as today, would fund the expansion of state Medicaid rolls and help alleviate the amount of uncompensated care hospitals provide, according to the report.
After the cloture vote, Health management Associates' stock price was up 4.5 percent, and Universal Health Services was up 4.8 percent. LifePoint Hospitals rose 3.1 percent, Tenet rose 5.9 percent and Community Health Systems was up 8.3 percent, according to the report.
Read the Wall Street Journal report on hospital operators (note: this report is no longer available on the WSJ's website).
- Senate to Approve $16B in Medicaid Funding to States
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