Profile: Health Management Associates Inc (HMA.N)
20 Dec 2013
Health Management Associates, Inc., incorporated on September 26, 1979, by and through its subsidiaries operates general acute care hospitals and other health care facilities in non-urban communities. As of December 31, 2012, the Company operated 70 hospitals with a total of 10,562 licensed beds in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, Missouri, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Washington and West Virginia. Services provided by its hospitals include general surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care and pediatric services. The Company also provides outpatient services such as one-day surgery, laboratory, x-ray, respiratory therapy, cardiology and physical therapy. Additionally, some of its hospitals provide specialty services in, among other areas, cardiology, neuro-surgery, oncology, radiation therapy, computer-assisted tomography (CT) scanning, magnetic resonance imaging (MRI), lithotripsy and full-service obstetrics. Its facilities benefit from centralized resources, such as purchasing, information technology, finance and accounting systems, legal services, facilities planning, physician recruiting, administrative personnel management, marketing and public relations. Effective April 1, 2012, one of its subsidiaries acquired from a subsidiary of INTEGRIS Health, Inc. (Integris) an 80% interest in each of five Oklahoma-based general acute care hospitals (collectively licensed to operate 218 beds) and certain related health care operations. A subsidiary of Integris retained a 20% interest in each of those entities. On May 24, 2012, its lease agreement for 25 bed St. Mary’s Medical Center of Scott County (SMMC) in Oneida, Tennessee expired. During the fiscal December 31, 2012, 41 of its hospitals, or 64%, were named as Top Performers on Key Measures according to a report released by The Joint Commission. Those 41 hospitals were among 620 hospitals recognized by The Joint Commission, representing the top 18% of more than 3,400 hospitals accredited by The Joint Commission that reported performance data for 2011.
The Company offers ER Extra, an emergency room operational initiative, which is designed to reduce patient wait times, enhance patient satisfaction and improve the scope of patient assessments and Nurse First, an emergency room service program that provides a nurse to assess the condition of a patient upon arrival in the emergency room. It receives payment for services rendered from the federal government under the Medicare program; the states where it operates under each state’s Medicaid program; commercial insurance and other programs, and patients, including co-payments and deductibles.
The Company provides services to individuals covered by private health insurance plans. In addition, it provides health care services to individuals covered under workers’ compensation programs, TRICARE/CHAMPUS (for retired military personnel) and other private and government programs. Those programs pay under prospective payment systems, per-diem systems or other discounted fee systems. It provides services to individuals who have no form of health care insurance. A portion of its self-pay patients are admitted through, or treated in, its hospitals’ emergency departments. It receives payment for services rendered from the federal government under the Medicare program; the states where it operates under each state’s Medicaid program; commercial insurance and other programs, and patients, including co-payments and deductibles.
Health Management Associates Inc
Suite 500, 5811 Pelican Bay Boul
NAPLES FL 34108-2710