HEALTH CARE
From Times Staff and Wire Reports
Community Psychiatric to Report Lower Earnings: Community Psychiatric Centers said its fourth-quarter earnings will be reduced by $14 million because of continuing losses from bad debts and delays in bill collection. The Laguna Hills-based chain also said its patient numbers and new admissions have dropped in the fourth quarter. It attributed the decline to the weak economy and tougher admissions review policies by third-party providers such as health maintenance organizations. The firm’s stock fell $1.25 a share to close at $12.50 in NYSE trading.
