Shares of Health Management Associates Inc. which owns Lehigh Regional Medical Center are down about 6 percent Friday after the company released earnings and disclosed Thursday it had received a subpoena from the SEC.
HMA said in a press release it received the subpoena on April 25, requesting documents “related to accounts receivable, billing write-downs, contractual adjustments, reserves for doubtful accounts, accounts receivable aging, and revenue from Medicare, Medicaid and from privately insured or uninsured patients,”
HMA reported net income of $23.1 million, or 9 cents a share, in the quarter ended March 1, which is down from net income of $37.7 million, or 15 cents a share, from the same period a year ago.