Feb 21 - UnitedHealth (UNH, Financial) says the Wall Street Journal's report of a DOJ probe into its Medicare billing practices is misinformation after market jitters triggered an over 9% drop in its shares. The investigation allegedly targets how UnitedHealth records diagnoses to boost Medicare Advantage payments, including at its affiliated physician groups.
Following the WSJ report, UnitedHealth swiftly dismissed the claims, stressing that its Medicare Advantage program undergoes regular government reviews and that no new practices have been introduced. Analysts from RBC Capital Markets view the report as unsubstantiated, suggesting that any probe will likely follow a drawn-out process similar to last year's DOJ anti?trust investigation.
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