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Gentiva Health Services (GTIV -2%) slips today, despite its announcement late yesterday that the...

  • Friday, November 30, 2012, 12:08 PM ET
    Gentiva Health Services (GTIV -2%) slips today, despite its announcement late yesterday that the SEC had completed its investigation into the company's participation in the Medicare Home Health Prospective Payment System and doesn't intend to recommend any enforcement action. The investigation was primarily focused on the number of therapy visits and reimbursements GTIV received before and after changes in the Medicare reimbursement system, as well as the company's relationships with physicians.
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    It should be noted that the SEC investigation was more over disclosure and securities anti-fraud provisions. This is not necessarily same as the substance of whistleblower and other medicare fraud type investigations, which I think are ongoing in the industry, especially Chemed CHE and maybe directly at GTIV as well.

    For example, if one is being investigated for defrauding the medicare/Medicaid system for charging and treating someone as terminal in hospice that isn't creates a contingent liability, if true, is quite costly and damaging. Not disclosing that such investigation exists and then engaging in securities activities with knowledge of the investigation's existence that hasn't been shared is a different liability. The SEC action pertains to the latter but not the former.
    30 Nov 2012, 05:20 PM Reply Like
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