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Originally Posted by ROCKETMAN
The words used by the person in put in charge of villages health system. He said they need to borrow 24 million to sustain operations, which I assume to pay employees and leases on 10 buildings. By his comments the only way out of this situation is to be taken over by Humana, but I assume the bankruptcy judge would have to approve this. Still not clear on the overbilling. Does that mean Medicare was over billed but the money was never actually paid. Going back as long as it has, I would think they received some of that $350 billion.
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I expect that Villages Health received most, maybe all, of the $351 million. That also means that Medicare has stopped sending monthly payments to Villages Health, and applying the monthly funds towards the debt. So, Villages Health has almost no income. That's why they need the loan to sustain operations.