Hospital Not Owed $21M For Writedown, CMS Tells 5th Circ.

Law360, New York (February 7, 2013, 4:31 PM EST) -- The Centers for Medicare & Medicaid Services on Wednesday urged the Fifth Circuit to uphold its denial of a $21 million depreciation loss adjustment for a Texas hospital system, saying the system's predecessor had not legitimately sought fair value for its depreciable assets during the merger creating the system.

According to CMS' brief, it had correctly denied Memorial Hermann Healthcare System's bid to claim a loss adjustment for depreciation on assets its predecessor, Hermann Hospital, had transferred to the merged system, as the asset transfer had...
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