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.
This article first appeared on GuruFocus.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.