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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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They were overpaid that money based on claims that they submitted. It will be interesting to see if this was up coding, services not rendered, falsification of medical conditions for higher payments, etc. United Healthcare seems to be holding the sale which is definitely an issue. Not sure as to who is lending them $24 million dollars, as how can that be repaid? Also, are they even getting money from Medicare at this point given the huge overpayment; what’s going to happen when vendors who haven’t been paid stop servicing them; and what happens when they ultimately go through the $24 million? Is there a chance that the clinics will end up having to shutdown for some period of time?