Cornerstone Healthcare Group Holding has issued a $150 million term loan facility; proceeds will be used to refinance existing debt and boost cash reserves. Standard & Poor’s Ratings Services has assigned the company a “B” corporate rating; it also assigned a “B” rating to the credit facilities, with a recovery rating of “3.” Its rating outlook on the company is “stable.” “Our stable rating outlook reflects our expectation that Cornerstone will continue to seek acquisition opportunities and that weak reimbursement trends will constrain profitability,” S&P said. Here are additional statements from S&P relative to Cornerstone Healthcare’s outlook and performance: • The… Full Story
The Office of the Inspector General (OIG) has recommended a Medicare moratorium on new home health care agencies in Texas. In a report issued Thursday, the OIG said nearly 40 percent of the nation’s suspicious billings for home health care originated in Texas. Forty-five percent of the state’s home health agencies (HHAs)—or 1,000 out of 2,212—had questionable billing. The Texas rate was five times greater than the national average, the OIG said. In a response to the report, Acting Medicare Administrator Marilyn Tavenner said she agreed with the recommendation to limit the number of agencies permitted by Medicare. “CMS …… Full Story
Parkland to temporarily close its psychiatric ER for renovation while suspending longer-term care for the mentally ill. Dallas-based Tenet Healthcare announces $110 million expansion at St. Christopher’s Hospital for Children in Philadelphia. Eleven North Texas companies and organizations make the cut in Modern Healthcare’s 2012 “Best Places to Work in Healthcare.” Weekend patients have a higher chance of dying than those admitted during the week, reports American Medical News. Is mandated physician retirement at a certain age a thing of the future?
More troubles for Lewisville-based Orthofix. The company has agreed to pay $5.2 million to settle federal regulatory charges that its subsidiary bribed Mexican officials for sales contracts with government hospitals. The American Heart Association reported fewer patients needed long-term care when primary care doctors focused on the health hazards of high blood pressure, smoking, high cholesterol, diabetes, irregular heartbeats, and depression. Dallas-based Tenet Healthcare Corp. boasts 33 hospitals that have received 71 designations for cardiac care, cardiac surgery, and heart rhythm disorders; and 21 designations as UnitedHealth Premium Surgical Spine and Total Joint Replacement Specialty Centers. Texas healthcare ranks worst in nation, according to NYDaily News. Arlington Occupational… Full Story
Edgemere, a senior living community in Dallas, is now offering residents the option to participate in the “Masterpiece Living” program, an aging program focused on maximizing one’s quality of life. Developed in 1999 by a board of health advisors, and informed by aging research and reviews of ongoing outcome measurement completed in conjunction with Mayo Clinic, there are four tenets to the Masterpiece Living philosophy: use it or lose it, loneliness hurts but involvement heals, there are no age limits, and I can make a difference. Edgemere is one of five senior living communities in Texas owned by Senior Quality… Full Story
Texas Health Resources has implemented 3D technology for mammograms. Dallas-based Aprima Medical Software has released an app that helps doctors manage their appointments, look up patient information, review patient visits, check and respond to messages, and other tasks. Seniors Helping Seniors, a non-medical home care company for senior citizens—with all work provided by seniors—is opening a new location in Denton County. The American Heart Association/American Stroke Association has created a website with an interactive map to assist people searching for heart disease and stroke care. Irving-based The LaSalle Group plans to build a memory care assisted-living community that will… Full Story