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Healthcare Leads the Pack

[By Staff Reporters]

All Medical Executive-Post readers and subscribers are aware of the Federal False Claims Act. Since 1986, False Claims Act [FCA] judgments and settlements totaled over $20 billion dollars. 

Of Miscreants and Feasors

According to outside unverified resources, below are the top 20 alleged FCA recoveries to date. Notice that all twenty, of the top 20, are healthcare and big Pharma related.

The Top 20

1. Tenet Heath Care – $900,000,000
2. HCA – $731,400,000
3. Merck – $650,000
4. HCA – $631,000,000
5. Serono – $567,000,000
6. Taketa Abbott Pharmaceutical Products Inc – $559,483,560
7. Schering Plough – $255,000,000
8. Abbott Labs – $400,000,000
9. Fresenius Medical Care (National Medical Care) – $385,000,000
10. Cephalon – $375,000,000
11. Bristol Myers Squib – $328,000,000
12. SmithKline Beecham [DBA] GlaxoSmith Kline – $325,000,000
13. HealthSouth – $325,000,000
14. National Medical Enterprises – $324,200,000
15. Gambro Healthcare – $310,000,000
16. Schering-Plough – $292,969,482
17. AstraZeneca Pharmaceuticals – $266,127,844
18. St. Barnabas Hospitals – $265,000,000
19. Bayer Corporation – $257,200,000
20. Schering Plough – $255,000,000

More: You can read all the details regarding these fraud judgments & settlements here 

Assessment

The above are the very companies that doctors, patients and many stakeholders rely upon. They bombard us every hour with TV advertisements and information on the latest drugs and newest procedures. They often promote cures for the exaggerated illnesses and nebulous ailments they seek to treat. Is this expense model just business-as-usual; or the cost-of-doing business?

Link: http://www.taf.org 

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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

• PRACTICES: www.BusinessofMedicalPractice.com
• HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
• CLINICS: http://www.crcpress.com/product/isbn/9781439879900
• ADVISORS: www.CertifiedMedicalPlanner.org
• FINANCE: Financial Planning for Physicians and Advisors
• INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
• Dictionary of Health Economics and Finance
• Dictionary of Health Information Technology and Security
• Dictionary of Health Insurance and Managed Care

Filed under: Accounting, Drugs and Pharma, Ethics, Health Economics, Health Law & Policy | Tagged: Abbott, Astra-Zeneca, Bayer, Cephalon, false claims act, HCA, health fraud, HealthSouth, hospitals, medical fraud and abuse, Merck, Schering Plough, Serona, SKB, Tenet Heath Care | 8 Comments »