Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, Calif. (AP) — Shares of Sun Healthcare Group Inc. fell Friday after the company lowered its annual profit and revenue estimates because of cuts in Medicare and Medicaid payment rates.

The cuts will reduce payments to nursing home operators by 11.1 percent. The changes were announced earlier this year. They go into effect Saturday. Sun Healthcare said it now expects to earn between 83 cents and 94 cents per share in 2011 on $1.93 billion to $1.95 billion in revenue.

Peter Westerman



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.