AHM reports $15.6 million loss.
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Biomedical subjects
Publications and source records attributed to J Nemes.
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In a push to regain Wall Street's affection, Humana is forging ahead with its insurance business. But some critics wonder if the growing emphasis on health plans is at the expense of the company's hospital division. Humana recently expanded its reach into Chicago, where it bought both a health plan and a hospital. In Florida, Humana's push to expand its insurance presence in a number of markets already is under way.
Tax-exempt healthcare bond volume fell 4.3% in the first quarter of 1991 as hospitals put the brakes on refinancings. Most facilities already have refunded higher-interest-rate debt, and others must wait for current rates to drop further for refinancing to make economic sense. While refinancings subsided, there was a flurry of new issues as hospitals replenished their depleted capital coffers.
If community hospital executives think they have a tough time trying to issue tax-exempt debt these days, it could be worse. Case in point--the Fred Hutchinson Cancer Research Center in Seattle. The world-renowned center, which was seeking financing for replacement facilities, faced a tough sell after it found itself with a couple of strikes against it, namely a high reliance on federal grants and balking credit-rating agencies. But a long-awaited government exemption and letter-of-credit guarantees got the project going.
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For three hospital chains that have used the employee stock ownership plan as a financing technique, the success rate is 2-1. Some experts say Health Trust--The Hospital Co. and Epic Healthcare Group are poised for success because they've adopted the employee-ownership idea in everyday activities. Charter Medical Corp. has been criticized for not doing enough to involve employees.
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