Shareholders are calling for an investigation into allegations of Medicare fraud at HCA Healthcare.
The Strategic Organizing Center Investment Group filed a formal complaint with the Securities and Exchange Commission.
The complaint notes high hospital admissions and claims that HCA failed to disclose information to shareholders regarding allegations of Medicare fraud.
“We are calling on the SEC to investigate HCA Healthcare to ascertain whether HCA’s statements about their emergency admissions are misleading because they fail to disclose HCA’s outlier status and the risks such status entails,” said Dieter Waizenegger of SOC Investment Group. “HCA’s aggressive ER admissions practices and general lack of transparency raise grave concerns about the company’s long-term reputation and success.”
Ahead of this formal complaint, the Service Employees International Union alleged approximately $1.8 billion in fraudulently procured Medicare payments.
LifePoint partners with data and analytics company
Brentwood-based hospital network LifePoint Health has announced a partnership with Utah-based data and analytics technology company Health Catalyst.
In a multi-year partnership, LifePoint seeks to use Health Catalyst technology to help reduce variation in clinical outcomes for patients, according to a release.
“Partnering with Health Catalyst will enable us to better leverage important clinical data that can drive meaningful improvements in patient care, safety and satisfaction while advancing our mission of Making Communities Healthier,” said Christopher Rehm, senior vice president and chief medical officer of LifePoint Health.
LifePoint operates 63 community hospitals, more than 30 rehabilitation and behavioral health hospitals and 170 additional care sites nationally, according to a release. In recent months, Lifepoint appointed a new chief compliance officer, and three leaders to oversee the operations of its joint venture, 25m Health.
HealthStream outpaces expectations in Q2
HealthStream, a locally based health software company, has released its second quarter results, with net income up 26 percent from the second quarter of 2021.
The company saw a net income of $3.1 million as compared to $2.4 million during the same quarter in 2021. Quarterly earnings of $0.10 per share beat the Zacks Equity Research estimate of $0.05 per share.
During the second quarter, the company completed the acquisition of CloudCME, a Nashville-based health care technology company valued at $10 million.
HealthStream CEO Robert A. Frist Jr. reported that the company saw 166,000 new subscriptions to hStream, 70,000 American Red Cross certifications, 100,000 new subscriptions to its HealthStream Learning Center application and reached 395,000 monthly active users on NurseGrid in the second quarter. (read more here.)
“Our quarterly financial performance was in-line with the financial guidance that we announced earlier this year and reaffirm today,” Frist said in a release. “Our focus remains on supporting health care organizations in developing their workforce and improving outcomes — and I believe our success in doing that positions us for sustained growth for the remainder of the year."