UnitedHealthcare signage is displayed on an office building in Phoenix, Arizona, on July 19, 2023. Patrick T. Fallon | Afp | Getty Images UnitedHealth Group on Tuesday issued a 2025 outlook that fell short of Wall Street’s expectations, as the company’s insurance unit continues to grapple with higher medical costs. Shares of UnitedHealth Group fell…
Shares of health insurance provider Elevance Health (NYSE:EVH) fell 11.5% in the afternoon session after the company reported its second-quarter results and cut its full-year profit guidance, citing rising medical costs. The health insurer announced second-quarter adjusted earnings of $8.84 per share, which missed Wall Street’s expectation of $9.16 per share. While revenue of $49.42…
Shares of health insurance provider Elevance Health (NYSE:EVH) fell 9.9% in the afternoon session after peer, Centene pulled its full-year financial guidance, triggering a sector-wide sell-off. Centene cited that market growth was “lower than expected” and the number of people making claims was much higher than forecast. This news has sparked fears among investors that…
Avoiding this crisis requires a transformation in cooperation between healthcare providers, insurers and health authorities, underpinned by technology integration across the whole system. Ignoring the impact of Covid-19, healthcare costs rose by 23 per cent in the five years to 2023, with taxpayer-funded costs increasing from 50 per cent of the total to 52 per…
A Texas doctor who falsely diagnosed his healthy patients to fund his lavish lifestyle with private jets and luxury sports cars as part of a $118 million health care scheme was sentenced to a decade behind bars. Rheumatologist Jorge Zamora-Quezada defrauded patients and insurance companies by purposefully diagnosing people with rheumatoid arthritis despite them not…
The DOJ has launched a civil fraud investigation into UnitedHealthcare over its billing practices in the Medicare Advantage program, according to the Wall Street Journal. The investigation focuses on whether the healthcare giant artificially inflated patient diagnoses to increase its monthly payments from the government. In a statement, UnitedHealth Group called reporting by the Journal…
The Department of Justice has reportedly launched an investigation into UnitedHealth Group’s Medicare billing practices as scrutiny over the health insurance industry intensifies — sending the company’s stock plummeting. The probe is analyzing the company’s practice of frequently logging diagnoses that trigger larger payments to its Medicare Advantage plans, according to The Wall Street Journal….
{KXLG – Watertown, SD} Community Transit of Watertown/Sisseton announced the Sisseton-Wahpeton Oyate of the Lake Traverse Reservation will receive $690,327 in funding to expand its transit operations, including the addition of vehicles for new routes and weekend hours to ensure continued transit services for tribal members in northeastern South Dakota. This expansion project will help…
Anurag, a 33-year-old sales executive, was returning home on his motorcycle after a long day’s work. Distracted by his mobile phone, he failed to see a pothole and crashed into an electric post, suffering severe head and neck injuries. He underwent emergency neurosurgery at a tertiary hospital. After a long stint in the ICU and…
Pharmaceutical giant AstraZeneca, whose China president is under investigation, was previously investigated for medical insurance fraud cases involving cancer medication sales, according to new Chinese media reports. The news comes after the British-Swedish company announced on its official website last week that its China chief Leon Wang was cooperating “with an ongoing investigation”, and its…