Humana's enrollment slips in Tampa, San Antonio.
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Biomedical subjects
Publications and source records attributed to J Nemes.
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For his part in righting a topsy-turvy financial cycle at Lee Memorial Hospital in Fort Myers, Fla., and bolstering the facility's creditworthiness, 44-year-old CFO Dennis A. Pettigrew has been chosen as this year's winner of the Cain Brothers, Shattuck & Co. award, which recognizes an outstanding member of the healthcare financial community.
When a hospital's bondholders hear that their facility is struggling financially, they want information. When a facility's chief executive officer doesn't let them talk to decisionmakers, such as board members and the medical staff chief, they feel like they're being denied information. This can come back to haunt the hospital that has to sell more debt in the future.
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Fueled by low interest rates and an increase in long-term capital projects, tax-exempt healthcare bond volume skyrocketed 84% in the first three months of 1992. Not-for-profit hospitals sold 126 separate bond issues for a total of $4.05 billion in the first quarter, up from 94 issues worth $2.2 billion in the same period last year.
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For-profit facilities are reaching out into their communities in efforts to share their views on healthcare reform and forge stronger ties with local business groups and governments. Because healthcare reform is drawing more interest than ever, their executives believe it's crucial to voice concerns about any legislative action that may affect their facilities' bottom line.
Children's Hospital of Philadelphia is nearly debt-free and able to finance much of its own replacement and equipment needs. But rather than avoid debt obligations, it's taking on more than $200 million in new borrowing that capitalizes on the hospital's flush financial profile. Its strong balance sheet and credit ratings will keep capital infusion costs low.
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