https://apple.news/AOk85RfxqSe6IhjrxBUc3HA
13 replies (most recent on top)
So all that training we take about fraud doesn't apply to ceos whose company we acquired? Mike p should be fired
An unethical company joining forces with another unethical company...... big suprise.
I prescribe double compliance training for Mike P
You mean to tell me that the founder and CEO who is a lawyer did not know this was illegal? Do I look like the biggest id--t in the world? And he has been promoted!!!
https://www.justice.gov/opa/pr/oak-street-health-agrees-pay-60m-resolve-alleged-false-claims-act-liability-paying-kickbacks
This is probably why they were for sale. If they didn't treat just medicare patients, I could see this being the default care provider for employees like we have to use CVS for Rx or take a cut in coverage costs
$60M will seem like a small value as compared to the goodwill write down that CVS may have to take for the acquisitions that are not integrating well. CVS has over $91B in goodwill and has a relatively high Goodwill-to-TotalAssets ratio. I'm not a finance guy so not sure what it means in general for stock price or sustainability of business, but it does not look great on the face of it.
lol, you think $60M will make a dent? cute
Did Oak Street disclose this prior to the acquisition and did the acquisition price take the risk into account?
@hce+1uz1AuEq Article was about third party agents steering Medicare patients to Oak Street Health and getting a kickback for it. Something like $200 per patient. And this happened BEFORE cvs bought oak street. And now CVS is on the hook for the 60 mil settlement with the government.
Karen must be fired pronto!!! This place is a mess
profits over patients
Nice paywall.