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Stock Market & Financial Investment News

News Breaks
March 25, 2014
10:06 EDTDVA, FMSMedicare urged by auditor to recalculate dialysis payments
An updated report released by the Health and Human Services Departmentís Inspector General recommended that the Centers for Medicare & Medicaid Services redetermine the basis of the end stage renal disease, or ESRD, base rate to reflect current trends in drug acquisition costs, as required by law; distinguish payments in the ESRD base rate between independent and hospital-based dialysis facilities; and consider updating the ESRD payment bundle using a factor that takes into account drug acquisition costs. "CMS did not explicitly state whether it concurred with our first recommendation, did not concur with our second recommendation, and concurred with our third recommendation," the report stated. DaVita (DVA) and Fresenius Medical (FMS) are publicly-traded companies that operate dialysis centers. Reference Link
News For DVA;FMS From The Last 14 Days
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June 24, 2015
06:32 EDTDVADaVita discloses it received subpoena from Inspector General
In a regulatory filing, DaVita disclosed that the company recently received a subpoena from the Office of Inspector General, U.S. Department of Health and Human Services. This civil subpoena covers the period from January 1, 2008 through the present and seeks production of a wide range of documents relating to the companyís and its subsidiariesí provision of services to Medicare Advantage plans and Medicare Advantage organizations and related patient diagnosis coding and risk adjustment submissions and payments. DaVita believes that the request is part of a broader industry investigation into Medicare Advantage patient diagnosis coding and risk adjustment practices and potential overpayments by the government. In the event that the company were to incur liability related to this matter, the company would pursue an indemnification claim against the sellers secured by the escrow. We can make no assurances that the indemnification and escrow would cover the full amount of our potential losses related to this matter. The company is cooperating with the government and will gather and produce the requested information.
06:30 EDTDVADaVita discloses Robert Margolis not re-nominated as co-chairman of company
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