QUORUM HEALTH GROUP INC

QUORUM HEALTH GROUP INC

Previous company name
HMC HOLDINGS CORP
Name change date
7/1/1990
Company Overview
Quorum Health Group Inc. is an American firm engaged in the provision of management holding services for a group active in the healthcare industry. It was previously operating under the name HMC Holdings Corp. As a holding company, it provides group planning and strategies as well as exercises financial control over its subsidiariesQuorum Health Group also settles the group’s general policies, appoints top management, and provides central services. The company has a registered business head office located in Brentwood, Tennessee.
The company’s major operating subsidiary is Quorum Health Resources LLC. Quorum Health Resources offers healthcare services through the operation of acute care hospitals and regional healthcare systems.
Business Summary
Quorum Health Group Inc. provides healthcare services through its owned acute-care hospitals and regional healthcare systems in the United States through its subsidiary, Quorum Health Resources, LLC. As of June 30, 2000, the Company owned and operated 21 acute-care hospitals with 4,519 licensed beds. The Company is also a minority investor in three joint ventures that own and operate seven acute-care hospitals with 1,330 licensed beds. At June 30, 2000, Quorum provided management services to 212 hospitals with approximately 24,195 licensed beds. The Company also had 197 contracts to provide selected consulting and support services to approximately 137 hospitals. The owned hospitals typically provide inpatient and outpatient services including internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics, obstetrics, diagnostic and emergency room services, outpatient surgery, laboratory, radiology, respiratory therapy, physical therapy and rehabilitation services.
Description and history
Quorum Health Group Inc. is a provider of healthcare services through its owned acute-care hospitals and regional healthcare systems located throughout the United States through its subsidiary, Quorum Health Resources, LLC. As of June 30, 2000, the Company owned and operated 21 acute-care hospitals with 4,519 licensed beds. The Company is also a minority investor in three joint ventures that own and operate seven acute-care hospitals with 1,330 licensed beds. At June 30, 2000, Quorum provided management services to 212 hospitals with approximately 24,195 licensed beds. The Company also had 197 contracts to provide selected consulting and support services to approximately 137 hospitals. The owned hospitals typically provide a full range of inpatient and outpatient services including internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics, obstetrics, diagnostic and emergency room services, outpatient surgery, laboratory, radiology, respiratory therapy, physical therapy and rehabilitation services. In addition, some of the owned hospitals provide psychiatric, skilled nursing and home health services.

Quorum’s owned hospitals are general, acute-care hospitals offering a wide range of facilities and inpatient and outpatient medical services. Inpatient services include operating and recovery rooms, intensive care and coronary care units and diagnostic and emergency services. Outpatient services include same-day surgery, laboratory, pharmacy and rehabilitation services and respiratory therapy. In addition, the Company’s owned hospitals provide specialty services that differ at each hospital. These services include cancer treatment, open-heart surgery, skilled nursing, treatment for chemical dependency and home healthcare services. The Company’s owned hospitals are not engaged in extensive medical research or educational programs. The Company receives payment for healthcare services provided by its owned hospitals from the federal Medicare program, state Medicaid programs, healthcare insurance carriers, HMOs and PPOs, and other managed care programs and self-insured employers, the TriCare Program, formerly called the Civilian Health and Medical Program of the Uniformed Services or CHAMPUS (TriCare) and patients directly.

Most of the hospitals for which the Company performs management, consulting or support services are not-for-profit hospitals. These hospitals are generally located in non-urban areas, and 65% have fewer than 100 beds. The Company provides management services to hospitals under management contracts and provide selected consulting, educational and related services. Quorum assists hospitals in improving their financial performance and the scope of their services.

The Company’s hospital management contracts generally have a term of three to five years. Management contract fees are based on amounts agreed upon by Quorum and the hospital’s governing body and generally are not related to the hospital’s revenues or other variables. The Company’s consulting services are directed at many of the operational needs of hospitals, including accounts receivable management, health information management, human resources, facilities design and various operational services. Quorum also provides consulting services to large, sophisticated medical institutions that need hospital management advice for specific issues.

Previously operating under the name HMC Holdings Corp

Business Line
Engaged in the provision of management holding services for a group active in the healthcare industry
Subsidiary

Advisor
ERNST & YOUNG LLP
IPO date
5/1994
US SIC Code
8062
Company Address
103, Continental Place

City province or state postal code
37027, BRENTWOOD, TN
Phone: +1 615 371 7979
Fax: +1 615 371 4670
Country address: UNITED STATES OF AMERICA
Website url: www.quorumhealthresources.com