Probe Into Amedisys Concludes With No SEC Action
A four-year Securities and Exchange Commission (SEC) investigation into one of the nation’s leading home health care companies has concluded, and SEC says it will take no further action against the provider.
SEC staff recently advised Amedisys, Inc. (Nasdaq:AMED) that the investigation by the SEC related to the company’s operations and participation in the Medicare program is finished, and the SEC will not recommend any enforcement action, according to a news release.
Amedisys, based in Baton Rouge, La., agreed to a $150 million settlement with the federal government in April for allegations that the company submitted false home healthcare billings to Medicare.
The settlement was to resolve seven whistleblower lawsuits against Amedisys that were filed in federal courts both in Pennsylvania and Georgia. The whistleblowers, primarily former Amedisys employees, will receive a collective $26 million of the settlement, according to the Department of Justice.
Amedisys said it has disputed the allegations, but opted to settle the matter to avoid litigation and the costs involved.
Amedisys provides home health and hospice care to more than 360,000 patients each year, according to its website. More than 2,200 hospitals and 61,900 physicians nationwide partner with Amedisys in offering post-acute care.
Written by Cassandra Dowell