Shares of health-care providers tumble after Medicare announced late Friday that it will cut...

|By:, SA News Editor

Shares of health-care providers tumble after Medicare announced late Friday that it will cut payment rates to skilled nursing facilities by 11.1% next fiscal year. The decision adjusts for an "unexpected spike" in nursing-home payments this fiscal year. SUNH -54.3%, KND -25.5%, SKH -39.2%, FVE -8.5%, ENSG -16.9%, SRZ -2.9%, NHC -12%, AMED -2.3% (earlier).