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Elsewhere, Tenet Healthcare slid after saying the U.S. Securities and Exchange Commission subpoenaed documents as part of its investigation into the company's billing Medicare practices, and AstraZenaca was higher after saying that a U.S. Food and Drug Administration panel was in favor of recommending the approval its cholesterol drug Crestor.
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In the past, Dr. Flick said, "private insurers used to subsidize our Medicare practice," but they are no longer willing to do so.
The average percentage of patients on Medicare was 35%, and 1 practitioner indicated limiting Medicare practice and 5 others indicated planning to limit Medicare practice.
Three problem areas pose barriers to expansion of chiropractic services under Medicare: (1) putative provision of maintenance (wellness) care in apparent violation of Medicare practice guidelines; (2) inadequate clinical documentation; and (3) projected increased costs associated with expanded services.
The company faces several shareholder lawsuits and a Security and Exchange Commission investigation, as well as regulatory scrutiny of its Medicare billing practices.
HealthSouth, the nation's largest chain of rehabilitation hospitals, has become mired in controversy over its Medicare billing practices and the stock sales of its chairman, Richard M. Scrushy.
C1 Drop in Profits at Tenet Tenet Healthcare, the hospital chain under scrutiny for its Medicare billing practices, told investors to expect significantly lower profits this year.
C1 HealthSouth Downplays Inquiry The HealthSouth Corporation acknowledged a Securities and Exchange Commission investigation and tried to ease concerns over its Medicare billing practices and stock sales by its chairman.
Building on the success of the False Claims Act at rooting out fraudulent Medicare billing practices and similar scams, Congress in 2006 increased the awards to whistle-blowers.
The HealthSouth Corporation, acknowledging that it is being investigated by the Securities and Exchange Commission, sought yesterday to quell increasing concerns over its Medicare billing practices and stock sales by its chairman.
In the call, Mr. Scrushy argued that investors had overreacted to HealthSouth's disclosure last month that what it considers a change in Medicare billing practices would cut deeply into profits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com