Dec 3 Shares of Health Management Associates Inc
fell about 5 percent on Monday after the television news program
60 Minutes aired a story describing aggressive patient
admissions policies allegedly pursued at the company's U.S.
The story included interviews with several former employees
of the hospital chain who said they were pressured to meet
quotas for admitting patients.
HMA Senior Vice President Alan Levine told 60 Minutes the
allegations were "absolutely wrong". An HMA spokesperson was not
immediately available Monday.
Among those interviewed for the television show was a former
director of compliance for HMA, Paul Meyer, who sued the company
for wrongful termination. Meyer accused the company of
committing Medicare fraud by billing the government for hospital
stays that did not meet government standards for admission or
HMA said it hired an outside law firm to investigate Meyer's
allegations, but it found no evidence to support an allegation
HMA shares fell 40 cents, or 5.09 percent, to $7.55 in
morning trading on the New York Stock Exchange.