Nov 30 Shares in Health Management Associates
Inc fell nearly 3 percent on Friday ahead of a "60
Minutes" television segment on the hospital chain's admissions
practices that will air on CBS on Dec. 2.
According to the website for "60 Minutes," the segment will
investigate allegations by doctors that the hospital chain
pressured them to admit patients regardless of their medical
The Naples, Florida-based hospital company, which operates
70 hospitals in 15 states, said in a statement on its website
that it retained "third-party experts" to examine admissions
data for individual hospitals and across the company.
"The data simply do not support the allegations," it wrote.
During a conference call on Friday morning for investors, it
said its admissions practices were line with industry standards.
"A Health Management review shows there is no basis for an
allegation (that) admissions through our emergency department
increased," Alan Levine, a senior vice president and Florida
group president at Health Management, said during the call.
Levine said he was interviewed by "60 Minutes" for the
segment, and in addition to discussing the admissions practices
he was questioned about the company's testing procedures.
He defended its testing procedures and said Health
Management followed industry standards.
Health Management has a $2 billion market capitalization and
is expected to record revenues of about $6.7 billion this year.
It was founded in 1977 and is focused on small to mid-sized
Shares in the company fell 3 percent, or 24 cents, to $7.83,
in morning New York Stock Exchange trading.