UnitedHealth Group reported Thursday that it is under investigation by the Department of Justice and has begun complying with requests from federal investigators. The inquiry focuses on the company's practices in recording diagnoses that affect Medicare Advantage plan payments. Despite this scrutiny, UnitedHealth asserts a history of responsible conduct and compliance. The company has faced challenges in its Medicare Advantage business, which has been pressured by increased care use and recent payment rate cuts. The share price declined following the announcement, reflecting investor concerns.
UnitedHealth Group announced it is under investigation by the Department of Justice concerning its Medicare Advantage payment processes and is cooperating with criminal and civil requests.
The company has emphasized its history of compliance and responsible conduct in response to the investigation into how it records diagnoses for Medicare Advantage plans.
Pressure on UnitedHealth's Medicare Advantage business increased due to rising care usage and recent rate cuts, impacting the company's performance.
The shares of UnitedHealth Group fell following the announcement of the Department of Justice inquiry, reflecting investor concern over the ongoing issues.
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