CHS Receives SEC Subpoena

Franklin, Tenn.-based Community Health Systems announced it has received a subpoena from the Security and Exchange Commission regarding its admission practices, according to a Nashville Post report.

CHS said it received the subpoena on May 13 requesting documents related to various inquiries into the company's billing practices. The practices allegedly resulted in one-day admissions that should have been billed as observation status visits.

The hospital operator is currently being investigated by the Department of Justice and HHS following a lawsuit by Tenet Healthcare alleging improper billing resulting from the admission practices. CHS stockholders have also filed a suit against CHS for stock losses resulting from the alleged improper billings and resulting investigations.

Read the Nashville Post report on CHS.

Related Articles on CHS:
Tenet Seeks Damages For Costs of Resisting Community Health Takeover
Community Health Shareholders File Suit, Seek Class Action Status
Proxy Advisor Urges CHS Shareholders to Oust Two Directors, CFO

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