LifePoint Hospitals, Brentwood, Tenn., recorded $31.3 million in additional revenue last quarter relating to the industrywide rural-floor underpayment settlement with the CMS.
LifePoint reports $31.3 million from CMS underpayment settlement
The April 5 settlement resolved several federal lawsuits that challenged the way in which the agency calculated the rural floor provision of the Balanced Budget Act of 1997. About 2,200 hospitals are expected to receive funds.
Other publicly traded systems have also revealed their piece of the settlement. They include: HCA, Nashville, $271 million; Community Health Systems, Brentwood, $102 million; Tenet Healthcare Corp., Dallas, $84 million; and Universal Health Services, King of Prussia, Pa., $35 million.
LifePoint reported the additional revenue as part of its first-quarter earnings results.
The hospital operator saw a 12.2% increase in revenue to $851 million compared with the same period last year. Admissions decreased 0.4%, but equivalent admissions increased 4%, and emergency room visits increased 7.1%.
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