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UnitedHealth Stock Falls on Report DOJ Is Probing Its Medicare Billing Practices
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UnitedHealth Group stock tumbled following a report that said the Justice Department had launched a civil fraud investigation into the company’s Medicare billing practices. The DOJ probe aims to examine the healthcare company’s practices for documenting diagnoses that trigger extra payments to its Medicare Advantage plans, The Wall Street Journal reported, citing people familiar with the matter. Shares of UnitedHealth Group closed down 7.3% to $465.69 on Friday.
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