UnitedHealth Group stock fell sharply Friday following a report that said the Justice Department had launched a civil fraud investigation into the company’s Medicare billing practices. The DOJ probe aims to examine the healthcare company’s practices for documenting diagnoses that trigger extra payments to its Medicare Advantage plans, The Wall Street Journal reported, citing people familiar with the matter. Under the current system, the federal government pays insurers a fixed amount each month to oversee enrollees’ Medicare benefits.
Yahoo! Finance: AMED News
