Tenet expects to receive net cash proceeds of $84 million from the settlement this June, of which $77 million will relate to continuing operations. Tenet will update its 2012 outlook on its adjusted EBITDA due to this and other settlements when it releases first quarter earnings May 8.
In addition, Tenet expects it will lose $2 million in the first quarter due to an adjustment from CMS on the Medicare Disproportionate Share Hospital Supplemental Security Income ratio.
More Articles on Tenet Healthcare:
Tenet Agrees to $42.75M Settlement for Alleged Medicare Overbilling
Tenet CEO Trevor Fetter’s Total Compensation Exceeds $10.7M in 2011
HCA, Tenet, CHS Credit Default Swaps Jump During Health Law Debate
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
