UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 13, 2011
IASIS HEALTHCARE LLC
(Exact name of registrant as specified in its charter)
Delaware | 333-117362 | 20-1150104 | ||
(State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
117 Seaboard Lane, Building E Franklin, Tennessee |
37067 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: (615) 844-2747
Not Applicable |
(Former name or former address if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
In response to investor inquiries and industry focus with respect to a complaint filed by Tenet Healthcare Corporation (Tenet) against Community Health Systems, Inc. (CHS) on April 11, 2011, IASIS Healthcare LLC (IASIS) is disclosing information regarding its Medicare observation rates and its hospitals use of McKesson Corporations InterQual Criteria (InterQual).
For the fiscal year ending September 30, 2009, the Medicare observation rate for Medicare patients at IASIS acute care hospitals was 11.6%, compared to the national average observation rate of 12.6% cited by Tenet in its complaint. As used herein, Medicare observation rate means the percentage derived by dividing the number of Medicare outpatient observation claims in a given period by the sum of Medicare outpatient observation claims in such period plus Medicare inpatient claims in such period, excluding from the calculation the results of any non-acute care hospitals.
While its Medicare observation rate is not something it customarily reports, IASIS believes this is substantially the same methodology used by Tenet in its complaint. To best emulate Tenets methodology, IASIS calculation of its observation rates excludes St. Lukes Behavioral Hospital in Phoenix, Arizona, its one non-acute care psychiatric hospital. IASIS computation is based on patient discharge data for its acute care hospitals.
With respect to patient admission criteria, IASIS recognizes that the physician or other licensed care provider is professionally responsible for determining whether a patient should be admitted to a hospital for inpatient care or treated on an outpatient observation basis. To support this clinical decision-making process, IASIS hospitals use InterQual.
Some of the statements made by IASIS in this Current Report on Form 8-K are forward-looking within the meaning of the federal securities laws, which are intended to be covered by the safe harbors created thereby. Those forward-looking statements include all statements that are not historical statements of fact and those regarding IASIS intent, belief or expectations including, but not limited to, IASIS understanding of the calculation methodologies used by Tenet with respect to Medicare observation rates, IASIS articulated objectives and expectations and other statements contained herein that are not historical facts. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results in future periods to differ materially from those anticipated in the forward-looking statements. These risk factors and uncertainties are more fully described in the Companys Annual Report on Form 10-K for the fiscal year ended September 30, 2010 and in IASIS other filings with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
IASIS HEALTHCARE LLC | ||||||
By: | /s/ John M. Doyle | |||||
John M. Doyle | ||||||
Chief Financial Officer |
Date: April 13, 2011