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Stock Market & Financial Investment News

News Breaks
August 1, 2014
12:18 EDTBEATBioTelemetry says Mednet entities served subpoena in Q2
BioTelemetry disclosed in its quarterly filing, "We have been and are currently subject to pre and post-payment reviews as well as audits of claims under CMS Recovery Audit Program and may experience such reviews and audits of claims in the future. In addition, state agencies may conduct investigations or submit requests for information relating to claims data submitted to private payors. For example, in the second quarter 2014, the Mednet entities were served with a subpoena by the New Jersey Department of Banking and Insurance Bureau of Fraud Deterrence, requesting claims data submitted to private payors. The Company has responded to requests for information from the State of New Jersey and continues to cooperate regarding this inquiry. Responding to these investigations, requests for information, reviews and audits of our claims requires considerable time and effort and corresponding costs. Any of these events could result in material delays in payment, material recoupments or denials, the commencement of civil legal proceedings, or result in our exclusion from participation in the Medicare or Medicaid or similar programs, all of which would have an adverse effect on our results of operations."
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November 24, 2014
09:33 EDTBEATBioTelemetry upgraded to Outperform from Market Perform at Avondale
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