Class Action Lawsuit Against Adeptus Health Alleges Misleading Statements, Securities Violations

A class action lawsuit has been filed against Lewisville-based Adeptus Health Inc. because the company allegedly made false and/or misleading statements, failing to disclose its internal control over financial reporting and the overall status of its business operations. Bronstein, Gerwirtz & Grossman LLC publicly reminded Adeptus investors that the class action lawsuit had been filedĀ against the free-standing emergency room provider on behalf “of a class consisting of all persons or entities who purchased Adeptus securities April 29, 2016 through March 1, 2017.” The New York law firm said there’s a May 9 deadline to request lead-plaintiff status in the case.… Full Story

Cedar Springs Capital, Crestline Investors Acquire Nashville-based Patient Financial Engagement Company

Dallas-based Cedar Springs Capital and Fort Worth-based Crestline Investors Inc. have partnered to acquire a majority interest in an Oregon-based patient financial engagement company called CarePayment. As a result of the deal, CarePayment will relocate its headquarters to Nashville. Full Story

Tenet Healthcare Records $192 Million Net Loss in 2016, Re-Prioritizes

Dallas-based Tenet Healthcare has announced plans to strengthen its hospital portfolio and expand its ambulatory network after releasing its 2016 financial records, showing a net loss of $192 million. While Tenet reported higher operating revenue than in the previous year, growing from $18.6 billion in 2015 to $19.6 billion in 2016, the financial boost was attributed to an increase in net patient service revenue. Tenet’s records showed it closed 2016 with $4.9 billion in revenue for its fourth quarter, a 3.3 percent decrease from the same quarter in 2015. After accounting for investment income and other expenses, Tenet ended 2016… Full Story

Fort Worth Hedge Fund Incites Hospital Operator Investigation Into Spinoff Disclosures

Hospital operator Quorum Health Corp., based in Brentwood, Tenn., has launched an investigation to determine whether it provided acceptable disclosure to investors prior to its spinoff after a Fort Worth-based investor wrote to Quorum’s board. According to Reuters, one of Quorum’s investors, hedge fund Q Investments LP of Fort Worth, wrote to Quorum’s board in October alleging that “debt-laden Community Health Systems duped Quorum investors.” In its letter, Q Investments also told Quorum, which currently owns or leases 36 hospitals, that it should launch an investigation. The letter says, “We believe Community Health was desperate to raise cash, and they… Full Story

Compliance 101: Your Plan Should Increase Office Efficiency and Transparency. Does It?

Although patient confidentiality is an important piece of compliance practice standards, a compliance plan addresses much more. An effective compliance plan helps an office run more smoothly from check-in to check-out and for patient care. And it also helps open lines of communication to encourage whistle-blowing that protects your practice. Full Story