HCA Says It Will Settle Billing Dispute
HCA, the nation’s largest for-profit hospital chain, announced an agreement to repay the federal government $250 million to settle an ongoing a dispute over fraudulent Medicare and Medicaid billing. The resolution is subject to approval by the Department of Justice. and a final written agreement.
Two years ago, HCA pleaded guilty to defrauding government health-care programs and agreed to pay more than $840million in criminal fines, civil penalties and damages.
The agreement announced Thursday settles outstanding appeals and more than 2,600 cost reports HCA sent to government programs from 1993 to 2001, some of which the government had not yet audited.
HCA stock closed up 70 cents, at $44.08, on the NYSE.
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