In fiscal year 2008, the Justice Department recovered $1.12 billion from settlements and judgments involving various healthcare organizations that allegedly defrauded the government. Nearly 60% of the amount recovered this year came from pharmaceutical manufacturers and retailers. The department recovered large figures over the past two years as well. In fiscal year 2007, the Justice Department recovered $1.53 billion. That year, healthcare cases accounted for approximately 84% of the $1.34 billion that the department secured from fraud and False Claims Act actions, the majority of which were initiated by whistle-blowers. In fiscal year 2006, the department recovered $2.3 billion. Organizations that enter into settlements with the government generally assert in those agreements that the decision does not reflect any admission of wrongdoing or liability.
About Reed Tinsley, CPA
As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →