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Originally Posted by RoseyRed
Agreed a lot of assumptions along with a lot of suspicious financial transactions. How does the revenue increase that much, and they not catch the billing errors much quicker? The sell of several entities adds to the big gray cloud over the Morse family. The insurance sell was a few years back, but the bank and health entities are quite recent. Does anyone remember the news article on one of the family members purchasing a very expensive home a few months back or does my memory fail me?
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The answer to the first part is easy---TVH did not think it was "overbilling", TVH and their consultants believed their billing was acceptable for years and years. Then, in negotiation with Humana, there was a difference of opinion triggering a requirement to self-report the
potential irregularities to CMS. It looks like he bureaucratic paper pushers at CMS saw "big" bucks and took the
opinion that the billing was erroneous. Unfortunately for TVH, the diagnostic codes are extremely vague in some regards and CMS gets the final
opinion (unless a court rules otherwise). Some people think that there is some "pile of money" under some Morse's mattress. That would be extremely naive. Their revenue was expected by them, not "excess". It was used in the usual manner---salaries, equipment, rent, utilities, insurance, etc. There would need to some forensic accounting to see what, if any distributions to shareholders have been paid and to whom. (The "family" only owns about 60% of the shares)
As far as "buying an expensive house", that's what billionaires can do----it's a complete non sequitur to the bankruptcy or allegations (only on social media) of fraud.