Dallas-based Tenet Healthcare announced (pdf) it has agreed to a settlement with HHS and CMS to correct underpayments from the Medicare inpatient prospective payment system during several previous years.
Tenet expects to receive net cash proceeds of $84 million from the settlement this June, of which $77 million will relate to continuing operations. Tenet will update its 2012 outlook on its adjusted EBITDA due to this and other settlements when it releases first quarter earnings May 8.
In addition, Tenet expects it will lose $2 million in the first quarter due to an adjustment from CMS on the Medicare Disproportionate Share Hospital Supplemental Security Income ratio.
Tenet expects to receive net cash proceeds of $84 million from the settlement this June, of which $77 million will relate to continuing operations. Tenet will update its 2012 outlook on its adjusted EBITDA due to this and other settlements when it releases first quarter earnings May 8.
In addition, Tenet expects it will lose $2 million in the first quarter due to an adjustment from CMS on the Medicare Disproportionate Share Hospital Supplemental Security Income ratio.
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