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Private Texas hospitals, including at least 21 facilities owned by the publicly traded Hospital Corporation of America, could see a plunge in supplemental Medicaid payments if a state proposal to revamp its health care program for the poor is approved by the federal government.
HCA May Face Big Revenue Hit If Feds Approve Texas Medicaid Plan
Seeded on Wed Oct 5, 2011 11:38 AM EDT
Article Source: kaiserhealthnews.org - By Christopher Weaver- Enjoy this article? Help vote it up the 'Vine.
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HCA's share of the funds is "not based on seeing patients that were poor or could not pay. It was based on a formula that skewed in their benefit," said state Rep. Garnet Coleman, a Houston Democrat who chairs a legislative committee overseeing the proposal. "The [proposal] corrects that, and rightly so. That was a windfall on a loophole that must be closed."
HCA's 157 hospitals nationwide generated $30 billion in revenue and $2.2 billion in pre-tax profits in 2010, the company said in filings to the Securities and Exchange Commission. Texas is among its biggest markets, home to 39 of its hospitals. More than half of the company's revenues come from its combined 75 hospitals in Florida and Texas.
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