Dallas-based Tenet Healthcare continues to work its way back from the problems which threatened to bankrupt the company a year ago, posting a narrower second-quarter loss despite a drop in overall admissions. The hospital chain reports losses of $21 million this quarter, down from a loss of $426 million in the same quarter a year ago. The company said a small increase in emergency room admissions and a drop in doubtful debt helped improved its financial picture. Tenet remains under SEC investigation for questionable billing practices at several of its California hospitals dating back to 2001.
- see this story from The Wall Street Journal (sub. req.)
PLUS: Things appear to be a little healthier at the three struggling California hospitals which Tenet sold to Centinela Freeman Medical System last year. After consolidation and management restructuring, losses at the three facilities are down 50 percent. Story