The United Health logo was held on a laptop in New York, US, Friday, July 7, 2023.
Gabby Jones | Bloomberg | Getty images
United health group On Thursday, it was found that it is facing an investigation by a Department of Justice on its Medicare Billing Practices. A string of failures For a company that owns the country’s largest and most powerful private insurer.
In A securities filingThe company said that it has started compliance with a formal criminal and civil requests from the DOJ, and reached the department after the investigation surfaced. The United Health also said that it has started reviewing the third party of its business policies and performance matrix.
The company told CNBC that it expects to complete the review at the end of the third quarter.
In filing, United Health said that it “has full faith in its practices and is committed to working cooperatively with the department in this process.”
Premrat trading fell by about 4% in the shares of the United Health Group on Thursday.
It comes after Wall Street Journal Informed In May that the Department of Justice is conducting a criminal investigation in a giant company of health care on possible medicare fraud. In response to that time, the company said that it “stands by the integrity of our Medicare Advantage Program.”
Journal in July Also reported DOJ interviewed several doctors about the practices of the United Health and did they pressurize to present claims for certain conditions, which pay the company from the Medicare Advantage Program.
This year was marked for the second time that the insurer came under the Medicare Advantage Business Federal Investigation. The magazine also stated in February that the DOJ is investigating whether the company has diagnosed to trigger additional payments for its Medicare Advantage Plan.
But on Thursday, the United Health said that the independent audit “confirms” by the centers of Medicare and Medicade Services “confirm” the company’s practices “are the most accurate in the industry.”
The United Health pointed out the recommendation of a particular master in March, which began with a whistleblower in favor of the company in a one -year legal battle with DOJ, which illegally stopped the company through a Medicare Advantage program. The Special Master, assigned to the case by a judge, said that DOJ had a shortage of evidence.
UnitedHealthcare’s Medicare and Retirement Segment, including the Medicare Advantage Business, is the largest revenue driver of the United Health Group, who racks in $ 139 billion in sales last year.
The investigation comes after a tumor last year for the update United Healthcare. The shares of the original company of UnitedHealthcare, United health groupThe following year is below 42% Suspend your 2025 forecast Amid the sky touching medical costs, former CEO announced the stunning exit of Andrew Witti and was struggling with a reported investigation in his Medicare Advantage Business.
After the assassination of United Healthcare CEO Brian Thompson, 2024 of the company marked by a historic cyber attack and a public blow was not easy.
– CNBC’s Barth Coombs contributed to this report.
