UPDATE: Gold, Peer-2-Peer Payment, Pediatric Vax and the Lumber Markets

Posted on July 10, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The price of gold dropped below $1,800 an ounce and appears hyper-focused on the soaring U.S. Dollar Index, which rose to 107.15. Over the last five days, the index is up by more than two points, and has risen five points over the last 30 days.

The minimal reporting threshold for peer-to-peer payment platform transactions has decreased from $20,000 (or 200 transactions) to just $600 because of a provision in the American Rescue Plan Act of 2021. That means that businesses that use platforms like Venmo, Cash App, PayPal, and even storefronts like Etsy and eBay can expect to receive 1099-K forms for the 2022.

Children in the US are getting vaccinated at a lower rate than the rest of the nation, with only 300,000 kids under five receiving the vaccine since it became available two weeks ago. Health officials say this was expected since most parents want to get their kids vaccinated at a doctor’s office.

Finally, lumber markets were a harbinger of economic shifts during the pandemic and today’s slumping prices could be just as prescient. Lumber prices hit a record $1,607 per thousand board feet in May 2021, due to soaring demand for new homes, a boom in DIY home renovation activities, and production and supply chain issues stemming from the pandemic. Twelve months later, lumber prices collapsed to $648, a more than 50% decrease from $1,464 in March. 

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Justice Recovers $5B from Healthcare Fraud Cases in 2021

Posted on July 10, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Justice Department’s (JD) efforts returned almost $1.9 billion to the federal government or paid it out to private individuals. Of that money, about $1.2 billion went to the Medicare trust fund. About $98.7 million in federal Medicaid money was transferred to CMS. The JD opened 831 criminal healthcare fraud cases last year. Federal prosecutors filed criminal charges in 462 cases involving 741 defendants. A total of 312 defendants were convicted of healthcare fraud during the year. The JD opened 805 civil healthcare fraud investigations and had 1,432 civil healthcare fraud matters pending at the end of last year. 

HHS Office of the Inspector General (OIG) investigations resulted in 504 criminal actions against individuals or entities accused of Medicare- and Medicaid-related crimes. The OIG filed 669 civil actions, which included false claims and unjust-enrichment lawsuits filed in federal district courts, and civil monetary penalties. The OIG excluded 1,689 individuals and entities from participating in federal healthcare programs, including Medicare and Medicaid. 

Source: Andrew Cass, Becker’s Hospital Review

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