Medicare and Medicaid

Tenet Reaches Settlement with SEC on Outlier, Reserve Issues

Published in Law and Health Weekly, April 21st, 2007

Tenet Healthcare Corporation (NYSE:THC) announced that it has entered into a civil settlement with the Securities and Exchange Commission that will conclude the agency's investigations into the adequacy of the company's disclosures regarding Medicare outlier payments prior to November 2002 and the appropriateness of certain of its managed care contractual reserves.

Under the settlement, Tenet will pay a civil penalty of $10 million. In its annual report on Form 10-K for the year ended Dec. 31, 2006, the company previously reported that it had established a reserve of $10 million in the fourth quarter to cover the expected cost of this settlement.

The...

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Source: Law and Health Weekly (2007-04-21)

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