A 110-slide presentation by Community Health Systems to its investors reiterated the hospital operator's stance that the lawsuit by Tenet Healthcare Corp. alleging CHS overbilled Medicare by admitting patients that should have been kept under observed status, according to a Wall Street Journal report.
Tenet's suit follows two bids by CHS to acquire Tenet for $6 a share. Both offers were rejected by Tenet.
CHS President and CEO Wayne Smith called the suit "a direct and unfair attack on the ethics and judgment of 16,000 physicians and 87,000 employees," according to the report.
A number of federal agencies announced earlier this week they would work together to coordinate an investigation into CHS' billing practices. CHS has said it will cooperate with investigators.
CHS said Tenet's suit is "based on contrived and biased metrics leading to a conclusion of implausibly inflated financial exposure," according to the report.
Read the Wall Street Journal report on Community Health Systems.
Read related articles on Community Health Systems:
CHS Q1 Income Down 12%, But Revenues Rise
Tenet Rejects Community Health's All-Cash Bid
Tenet Sues CHS: New Battle Lines in Healthcare Takeovers — Whistleblowing
Tenet's suit follows two bids by CHS to acquire Tenet for $6 a share. Both offers were rejected by Tenet.
CHS President and CEO Wayne Smith called the suit "a direct and unfair attack on the ethics and judgment of 16,000 physicians and 87,000 employees," according to the report.
A number of federal agencies announced earlier this week they would work together to coordinate an investigation into CHS' billing practices. CHS has said it will cooperate with investigators.
CHS said Tenet's suit is "based on contrived and biased metrics leading to a conclusion of implausibly inflated financial exposure," according to the report.
Read the Wall Street Journal report on Community Health Systems.
Read related articles on Community Health Systems:
CHS Q1 Income Down 12%, But Revenues Rise
Tenet Rejects Community Health's All-Cash Bid
Tenet Sues CHS: New Battle Lines in Healthcare Takeovers — Whistleblowing