Triad Left in Lurch as CFO Walks

During the latest quarter alone, she notes, HMA saw its charity care -- provided to patients who are unable to pay -- jump a "whopping" 24%. Notably, she adds, charity write-offs are now climbing at a faster rate than gross revenue itself.

Thus, Skolnick remains worried about HMA despite her upgrade of the company. She raised her rating on the stock because of Whitman's arrival, but she doubts even he can be some kind of "miracle worker."

In the meantime, however, the popular executive has already managed to stir up some fresh hope about the company.

"We don't expect the operational issues to be resolved overnight," conceded Feinstein, who has an equal-weight rating on the company's stock. "But (Whitman's) appointment should provide a catalyst for improving operations in the future."

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