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Standard & Poor's Upgrades Wellmont Outlook
Date:8/25/2009

and the uncertainty whether limits on future Medicare, TennCare and Virginia Medicaid reimbursement may constrain operations, we believe that management initiatives to reduce costs and improve Wellmont's revenue cycle will support a generally improving operating trend."

Other factors S&P cited in upgrading Wellmont's financial outlook include:

 
  • "The system's solid business position characterized by good market share in a demographically favorable region that is largely dominated by two health care systems that have recently become more collaborative."

 
  • Acceptable maximum annual debt service coverage, despite the economic downturn that affected investment income for organizations throughout the country. Wellmont's debt service coverage "remained consistent with prior years, despite the significant decline of investment income and other non-operating revenues in fiscal 2009."

 
  • A stabilized balance sheet that includes 131 days cash on hand.

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