HMA Receives SEC Subpoena for Billing Documents

Naples, Fla.-based Health Management Associates disclosed that it received a subpoena from the Securities and Exchange Commission April 25.

The SEC's subpoena requested documents related to HMA's accounts receivable, billing write-downs, contractual adjustments, reserves for doubtful accounts, accounts receivable aging and revenue from Medicare, Medicaid and from privately insured or uninsured patients.

The 71-hospital chain disclosed the subpoena in its first quarter 2013 financial results yesterday. It said it is cooperating with the SEC investigation but is "unable to determine the potential impact, if any, of this investigation," according to the press release.

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