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HealthSouth Reports Results for Third Quarter Ended September 30, 2008
Date:11/4/2008

training, and orientation costs), annual merit increases, and increases in the cost of benefits provided to employees.

The Company routinely awards merit increases on October 1 of each year, which normally coincides with Medicare pricing adjustments. However, as part of the Medicare pricing roll-back that became effective April 1, 2008, the October 2007 pricing adjustment was rescinded, which had the effect of increasing salaries and benefits as a percent of net operating revenues in the quarter.

As previously reported, the Company made adjustments to certain benefits effective January 1, 2008. Some of these changes resulted in the consolidation of certain benefits, such as our paid-time-off program, which, in turn, is contributing to the increase in salaries and benefits. The Company has analyzed the competitiveness of these programs and has decided to modify certain aspects of these programs effective November 15, 2008, with additional modifications to be effective January 1, 2009.

Hospital Related Expenses

Hospital related expenses (which includes other operating expenses, supplies, occupancy costs, and the provision for doubtful accounts) for the third quarter of 2008 increased primarily due to increased patient volumes, repairs and maintenance expenses associated with the refurbishment of some of HealthSouth's aging hospitals, rising utility costs, costs associated with the implementation of the Company's TeamWorks initiative, the effect of hurricanes on some of the Company's hospitals in Texas and Louisiana, and increased pricing related to supplies, especially pharmaceutical costs.

The Company's provision for doubtful accounts continued to show the positive trend that resulted from the installation of new collections software in the latter half of 2006 and the standardization of certain business office processes.

General and Administrative Expenses

As discussed previously, the Company's targeted level of gener
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SOURCE HealthSouth Corporation
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