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Diving brief:
- United said on Thursday that she was under the federal investigation of the Ministry of Justice on his Medicare program.
- The company declared in a deposit of the titles which it compared to the Ministry of Justice on the formal criminal and civil requests and had proactively contacted the doj according to the media reports that United which faces surveys on its Medicare program.
- United said that he had launched his own examination of his policies and that he has “full confidence” in his practices. The actions of the company fell by more than 2% during the negotiations on Thursday morning.
Diving insight:
The Medicare Program of United will have been examined the federal investigators for a possible criminal fraud this year.
In February, the Wall Street Journal reported that the Ministry of Justice had launched an investigation into the invoicing practices of Unitedhealth, including the potential overpays in its Medicare Advantage program and in the practices of the doctors that the insurer has. The newspaper then reported in May and July that the Ministry of Justice had launched a criminal investigation into the company for a possible drug fraud and questioned employees about how it documented medical diagnoses.
MA has been the subject of a meticulous examination of regulators and legislators for having cost the government more expensive than traditional health insurance-this year, the government should spend 84 billion dollars more for the beneficiaries of MA than if they were registered in traditional health insurance.
Regulators and legislators blamed insurers. The program was lucrative for insurance companies, which have also been accused of restricting care for the elderly and exaggerating diagnostics to obtain a higher reimbursement.
In addition to investigating his Medicare practices, United was also the target of the antitrust surveys of the Doj. The company, which has the largest private insurer in the United States, a network of doctors, a pharmacy service manager and an billing and analysis company, has been studied for anti-competitive effects between Unitedhealth and Optum, its branch of health services which includes a group of doctors.
Recognition of the survey is a rare stage of United, which refused to publicly comment on the potential DOJ surveys.
The company has experienced difficulties this year in the midst of higher medical expenses in its insurance company and new regulations on medical coding Set up by the Biden administration.
Once a Bellwether’s actions for industry, the company withdrew his advice on the profits for 2025 after underperformed his first quarter and then replaced his CEO Andrew Witty. The investment banks have lowered the company and the shares of Unitedhealth are down approximately 43% compared to the start of the year.
United will report its results of results in the second quarter on July 29.
