MDTH Medcath Corp. (MM)

Calls for Sen. Grassley to Let CMS Finish the Task They've Been Handed CHARLOTTE, N.C., Oct. 21 /PRNewswire/ -- MedCath Corporation (NASDAQ:MDTH), which owns and operates physician-owned specialty hospitals focusing in cardiovascular care, released the following statement in reaction to the provision on specialty hospitals introduced in the budget reconciliation by Senator Charles Grassley (R-Iowa): "We have been continually perplexed by Senator Grassley's disregard for the facts about specialty hospitals and the patients they serve; particularly those in rural areas, who seek higher quality of care at our hospitals," said Jamie Harris, CEO of MedCath. "This bill ignores the facts and findings presented by CMS and MedPAC who concluded that specialty hospitals have better quality and outcomes, higher patient satisfaction and serve as a positive force for competition in the marketplace. The problem, they found, is not with specialty hospitals per se but with an outdated payment system. CMS is already moving swiftly to reform the payment system, yet Senator Grassley refuses to let CMS implement their recommendations regarding specialty hospitals. It is disappointing that the objective of this legislation is to limit the ability of our hospital model, which has proven to have better quality outcomes as documented by both CMS and The Lewin Group, to continue to serve new communities who need better care in the fight against heart disease, which is the number one killer in the United States. Not only is it completely unwarranted -- it's overkill. Lastly, it is limiting to patient choice and those who seek a higher quality care. MedCath Corporation, headquartered in Charlotte, N.C., develops, owns and operates hospitals in partnership with physicians, most of whom are cardiologists and cardiovascular surgeons. While each of its hospitals is licensed as a general acute care hospital, MedCath focuses on serving the unique needs of patients suffering from cardiovascular disease. Together with its physician partners who own equity interests in them, MedCath owns and operates 13 hospitals with a total of 759 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota, Texas and Wisconsin DATASOURCE: MedCath Corporation CONTACT: Aaron Walker, +1-202-572-6205, , for MedCath Corporation

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