UnitedHealth Stock Sinks on Reported DOJ Probe Into Medicare Advantage Billings | Global News Avenue

UnitedHealth Group(Unh) Stocks threw stocks more than 10% Friday morning after the U.S. Department of Justice is investigating the healthcare giant’s Medicare billing practices.

according to Wall Street JournalThe Justice Department is investigating whether United Health tends to overdiagnose conditions, which can be found from Medicare Advantage Program. The newspaper reported allegations of the practice in December, and doctors told the media that they had accepted “diagnoses that record revenue generation, including diagnoses that they found somewhat obscure or irrelevant.”

UnitedHealth says WSJ “don’t understand” Medicare Advantage plan

DOJ and UnitedHealth did not respond immediately Investopedia Request for comment.

UnitedHealth Previous Criticism MagazineReport of report Medicare Advantages. The company said the reports “clearly show that Magazine Not familiar with the Medicare Advantage program, “called the report a “unilateral, biased attack.”

CVS Health and CVS Health also weighed other health insurance companies on Friday (CV), Cigna Group (CI) and humans (snort) Each report follows a report. UnitedHealth shares fell 11% on Friday morning, the lowest open volume since last April.