Tenet achieved another strong quarter of improved pricing and tight cost control strengthening the foundation of our business as we enter 2006. Despite this considerable progress on the pricing and cost fronts, our results for the fourth quarter and full year 2005 were adversely impacted by continuing declines in patient volumes and stubbornly high levels of bad debt expense. We believe our ability to successfully reverse this volume erosion is limited by the continuing overhang of government litigation and investigation issues. The resolution of these issues remains among our highest priorities.
More Quotes from Trevor Fetter:
at a point you've asked too much of human beings and it's not intelligent to keep going.Trevor Fetter
The investigation did not find any widespread issues with contractual allowances for managed care accounts across the company. But it did turn up problems that require restatements of certain prior-year results.
Trevor Fetter
If they remained in our control, we know where they went, ... If they were taken out by the authorities, we don't know.
Trevor Fetter
It will be many weeks before we can begin to appreciate the extent of the damage,
Trevor Fetter
Tenet is dedicated to promoting quality patient care in the communities we serve. We are pleased that the American Heart Association has recognized the dedication and achievements of these hospitals and staff, and we will continue to build off this success.
Trevor Fetter
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