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Hospitals Hoping for Increased Insurance Coverage

ETF Innovators (November 8th, 2008) Writes:
Hospitals Hoping for Increased Insurance Coverage The combination of a bad economy and rising unemployment is contributing to unpaid bills and operating losses at U.S hospital companies such as Tenet Healthcare (THC), which missed analyst estimates last week by 3-cents with an adjusted 6-cent per share loss and lowered its full-year and 2009 guidance for EBITDA. Tenet's allowance for doubtful accounts increased 5.8% to $163M at hospitals run by the Company for over a year. With Tenet trading at all-time lows, several insiders were buying a combined 160,000 shares on the open market last week at prices ranging from $2.49-$2.71, while the stock closed the week at $2.26 ($1.1B market cap) with a loss of about 48% in ...

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