PHS’ rating was based on a number of factors, including the health system’s leadership position in most of its markets, its strong management team and its commanding revenue base. PHS is the leading healthcare provider in seven of its nine markets, and the health system employs more than 3,200 physicians.
Challenges affecting PHS include its weaker operating performance over the last three years and high comprehensive debt. PHS’ operating cash flow fell to 6.9 percent in 2013 from 8.3 percent in 2012.
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