What Will Tenet's New CEO Do?

Appin, Rick
June 2003
Investment Dealers' Digest;6/2/2003, Vol. 69 Issue 22, p31
Trade Publication
Tenet Healthcare Corp.'s announcement about the resignation of its chief executive officer (CEO) Jeffrey Barbakow gave the company's bonds a bit of boost, but investors remain worried about who will replace Barbakow at the helm of the second-largest domestic owner and operator of acute care hospitals. Barbakow had been under pressure to resign as CEO ever since he admitted that the company has boosted its revenues by aggressively applying Medicare's outlier policy, which allows for hospitals to bill Medicare over and above the average cost of care under special circumstances. The U.S. Justice Department has launched a probe to determine whether two Tenet Healthcare Corp.'s hospital doctors in California billed Medicare for unnecessary heart surgeries.


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