NEW YORK— Orbit Medical and Rehab Medical have reached a $7.5 million settlement with the Department of Justice over a five-year-old Medicare fraud case. Two former Orbit employees filed a whistleblower lawsuit alleging that a vice president forged medical records so that the company could collect Medicare payments from for electric wheelchairs.» Read More
CNBC's Scott Cohn reports $453 million, 7 cities and 108 people have been charged in an alleged Medicare fraud case.
The growth of health spending has slowed substantially in the last few years, surprising experts and offering some fuel for optimism about the federal government’s long-term fiscal health. The New York Times reports.
Despite a landmark settlement that was expected to increase coverage for out-of-network care, the nation’s largest health insurers have been switching to a new payment method that in most cases significantly increases the cost to the patient, the New York Times reports.
CNBC's John Harwood reports the Social Security trustees project Medicare and Social Security cannot sustain costs and that lawmakers must act quickly to save both programs.
President Barack Obama remarks on the U.S. economy and says, "our discretionary spending is lower than it's been in decades."
This month, the Supreme Court, under Chief Justice John Roberts, will hear extended arguments leading to a final ruling on President Obama's signature healthcare legislation, the New York Times reports.
Members of a House-Senate committee charged with writing a measure to extend a payroll tax reduction and provide added unemployment benefits reached a tentative agreement Tuesday evening, with Republicans and Democrats claiming a degree of political victory in a fight with significant election-year implications, the New York Times reports.
In the short time between the election and Dec. 31, the lame duck U.S. Congress has a “golden opportunity” to close two-thirds of the budget deficit by letting tax cuts expire and allowing mandatory budget cuts to kick in, Roger Altman, founder of Evercore Partners and a former deputy U.S. Treasury secretary, told CNBC.
Honeywell CEO David Cote wants President Obama to talk about the national debt and how he'll shrink it during the State of the Union address later Tuesday, he told CNBC.
With two trading days left in the year, “Fast Money” pro Anthony Scaramucci shared his 2012 predictions on Europe, gold, the U.S. dollar, Iran and Occupy Wall Street.
Pharmaceutical giants’ profits could take a "double-dip" hit next year from patent expirations on blockbuster drugs and President Barack Obama’s healthcare reforms, according to a report from CreditSights, a credit market research firm.
Medicare officials say hundreds of thousands of doctors will get a steep cut in payments on Jan. 18 unless a gridlocked Congress issues a reprieve.
GOP presidential hopeful Newt Gingrich discusses what he would cut from the Federal budget, tax cuts, President Obama, Ron Paul's negative ad against him, his 15-point lead in the latest Gallup poll, and why he would make a stronger candidate than Mitt Romney.
There's a number of big issues out there that will have a bearing on the economic well-being of Americans, and voters are beginning to wonder where the presidential candidates stand on some of them.
Is legislated healthcare reform here to stay? As we watch the presidential race heat up – and look to a Supreme Court ruling this summer — no one knows for sure. Regardless, we as a nation need to realize that traditional thinking around healthcare is forever changed.
In recent days home health care companies—notably Amedisys, Gentiva and LHC Group, have been whacked after a Senate staff report slammed them for allegedly gaming the Medicare system. That prompted me to wonder what other areas of healthcare could be susceptible to the government’s Medicare mash.
Want to know why Medicare and Medicaid are going broke? One big reason is fraud, and it's been infecting government health care programs for years. CNBC's Scott Cohn has the story of a home health care scam for the record books.
In the first overhaul of the system in 25 years, younger, healthier people will be given priority preference for kidneys over older, sicker people. This is a major change over the previous system which favored patients on a waiting list – first come, first served – irrespective of age or health condition.
Though the U.S. had made much progress taking medical record keeping into the digital age, there's still some doubt that the government will reach its target by the prescribed deadline.
Medicare and Medicaid are often confused with each other as both are government sponsored health programs. But there are major differences. CNBC explains.