Stocks in Skilled Nursing Facilities Sector Tumble as CMS Proposes Medicare Rate Cut (KND) (SKH) (SUNH)
Up)
A number of stocks in the Healthcare Facilities sector are getting beaten down Friday morning following a proposal from the Centers for Medicare & Medicaid Services Thursday night to cut payment rates for skilled nursing facilities by 11.3 percent.
The measure would reorganization the 2012 RUG-IV payment system, effectively reducing Medicare payments to skilled nursing facilities by about $3.95 billion.
An alternative proposal would hike Medicare payment rates by 1.5 percent.
Around the sector:
A link to the CMS proposal is here.
Kindred has publicly responded to the proposals. You can read their comments here.
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The measure would reorganization the 2012 RUG-IV payment system, effectively reducing Medicare payments to skilled nursing facilities by about $3.95 billion.
An alternative proposal would hike Medicare payment rates by 1.5 percent.
Around the sector:
- Kindred Healthcare (NYSE: KND) down 12 percent
- Skilled Healthcare (NYSE: SKH) down 13 percent
- Sun Healthcare (Nasdaq: SUNH) down 18.3 percent
- RehabCare Group (NYSE: RHB) down 3 percent
A link to the CMS proposal is here.
Kindred has publicly responded to the proposals. You can read their comments here.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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