Weird that Google can acknowledge its crowdsourced medical advice was wrong, but escape penalties for doing it wantonly at scale.
Morning Headlines 5/2/24
CVS Health Corporation Reports First Quarter 2024 Results and Revises Full-Year 2024 Guidance
CVS Health shares plunge on the news of disappointing Q1 results and revised full-year 2024 guidance.
Aledade and Medical Advantage Team Up To Expand Value-Based Care in Michigan
Value-based care and physician practice optimization company Aledade acquires Medical Advantage, a subsidiary of The Doctor’s Company that provides value-based healthcare consulting to practices in Michigan.
Tiger Global-backed Innovaccer in talks to raise $250M in new funding, sources say
Health data and analytics company Innovaccer is reportedly in talks to raise $250 million at a valuation of between $2.5 billion and $3 billion.
What’s happening with Farzad’s FACA charge? Seems to have dropped out of the news? Sweetheart deal in the works?
I think the False Claims Act lawsuit lost some steam when the federal government declined to join the action. It’s also an old case, having been filed in March 2021 and unsealed earlier this year when the government declined to participate. Former Aledade executive Khushwinder Singh, MD, MHA claimed that the company rigged its billing system to upcode conditions to take advantage of Medicare Advantage payment rules (example: turning “anxiety” into the higher-paying “depression”). He says he was fired four months into his senior medical director job for questioning the company’s practices.