Something Doesn’t Look Right; DOJ Launches Investigation into UnitedHealth Group's Medicare Billing Practices, Sources Say –Per WSJ
The Justice Department has launched an investigation into UnitedHealth Group’s. This new civil fraud investigation is examining the company’s practices for recording diagnoses that trigger extra payments to its Medicare Advantage plans, including at physician groups the insurance giant owns.
A series of articles in The Wall Street Journal last year showed that Medicare paid UnitedHealth billions of dollars for questionable diagnoses. Attorneys with the Justice Department as recently as Jan. 31 interviewed medical providers named in the articles.
Shares of the company fell nearly 7% to $466.88 in premarket trading.
Foxconn contacts Honda over partnership
This move is interesting since Honda and Nissan tabled partnership talks over a week ago. Foxconn (SS:601138), the world's largest contract electronics manufacturer based in Taiwan, is reportedly planning a partnership with Japan's Honda (NYSE: HMC) Motor. This move is interesting since Honda and Nissan tabled partnership talks over a week ago.
This deal also brings Nissan back to the negation table. The proposed collaboration framework also includes Nissan (OTC: NSANY) Motor and Mitsubishi Motors (OTC: MMTOF), according to a Nikkei.
Earlier this month, Foxconn's chairman expressed the company's interest in acquiring a stake in Nissan. This announcement came after the merger discussions between Nissan and Honda fell through.
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