Shares of UnitedHealth fell after The Wall Street Journal revealed that the Justice Department is looking into the insurer’s Medicare billing practices.
The Minnesota-based company’s stock fell almost 11.5% before to the bell. As a result of that decline, Dow Jones Industrial Average futures fell by almost 200 points.
The Journal was informed by people familiar with the situation that UnitedHealth’s Medicare billing methods are the main focus of the inquiry.
In particular, it is assessing procedures for documenting diagnoses that may result in additional payments on the business’s Medicare Advantage programs.
Source (CNBC)
