UnitedHealth under criminal investigation for Medicare fraud
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19hon MSN
UnitedHealth Group is being investigated for possible Medicare fraud, according to The Wall Street Journal, sending shares of the healthcare company sliding in after-hours trading just one day after its CEO,
UnitedHealth said in a statement late Wednesday that the Department of Justice hadn’t notified the company about the reported investigation.
UnitedHealth faces AI backlash after nH Predict's 90% error rate and a DOJ probe. With more than 1,000 AI applications from call routing to claims efficiency and a robust responsible AI policy, the company aims to balance innovation with trust in a high-stakes bid to reshape healthcare.
Stephen Hemsley hasn’t been CEO at UnitedHealth Group in nearly a decade yet he’s never really left. Hemsley, 72, has remained chairman and a major shareholder in the health care behemoth — and now is back in the CEO
Shares of UnitedHealth Group (NYSE: UNH) are falling on Thursday. The collapse comes as the S&P 500 gained 0.1% and the Nasdaq Composite fell 0.4%. The troubled health insurance giant is facing reports of a Department of Justice (DOJ) investigation into possible Medicare fraud.
UnitedHealth Group's stock has plunged nearly 50% due to the CEO resignation, withdrawal of guidance, and ongoing legal issues, creating a potential buying opportunity. The stock is deeply oversold with an RSI of 15, trading below both the 200-day and 50-day moving averages, indicating capitulation.
Stephen Hemsley ran UnitedHealth Group for more than a decade. It's a different company after four years with Andrew Witty in charge.
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