Unexpected delays in billions of dollars of supplemental Medicaid payments have forced some hospitals to cut costs by laying off staff and pausing payments to medical suppliers, Dominique Mosbergen of The Wall Street Journal reports. Hospital associations in at least 10 states said the Centers for Medicare and Medicaid Services has been unusually slow processing applications. Some of the delays date back to fall of 2024. Companies in the space include Tenet Healthcare (THC), Universal Health (UHS), Community Health (CYH), and HCA Holdings (HCA).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on THC:
- Tenet Healthcare: Strong Performance and Growth Potential Justify Buy Rating Despite Lowered Price Target
- Tenet Healthcare price target raised to $189 from $183 at RBC Capital
- Tenet Healthcare price target raised to $230 from $217 at UBS
- Tenet Healthcare price target raised to $180 from $165 at Guggenheim
- Tenet Healthcare price target raised to $171 from $161 at Barclays