TITLE

Fiduciary failure

AUTHOR(S)
Carlson, Joe
PUB. DATE
June 2011
SOURCE
Modern Healthcare;6/6/2011, Vol. 41 Issue 23, p18
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Lifespan Corp. has violated its fiduciary duty to act in the best interests of a subsidiary hospital, according to a ruling by U.S. District Judge Joseph Laplante. The May 24, 2011 ruling also ordered Lifespan to pay 14.2 million U.S. dollars to Tufts Medical Center due to gross negligence in managing the payer contracts of the hospital. Laplante points out the failure of Lifespan use its larger corporate size to competitively negotiate rates with Cigna Corp. and UnitedHealthcare, two of Tufts' national insurance carriers.
ACCESSION #
61141678

 

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