UnitedHealth says it is facing DOJ investigation over Medicare billing practices

Core Viewpoint - UnitedHealth Group is under investigation by the Justice Department regarding its Medicare billing practices, with the company expressing confidence in its practices and commitment to cooperate with the investigation [1][2]. Group 1: Investigation Details - The Justice Department is conducting both criminal and civil investigations into UnitedHealth's Medicare Advantage business, focusing on potential Medicare fraud and inflated diagnoses for extra payments [1][2]. - In March, a special master recommended in favor of UnitedHealth in a related case, stating that the DOJ lacked sufficient evidence regarding allegations of withholding at least $2 billion [3]. Group 2: Financial Impact - UnitedHealthcare's Medicare and retirement segment generated $139 billion in sales last year, making it the largest revenue driver for UnitedHealth Group [4]. - The company's shares have declined over 42% this year due to rising medical costs, the unexpected departure of former CEO Andrew Witty, and ongoing investigations [5]. Group 3: Recent Challenges - The year 2024 has been particularly challenging for UnitedHealthcare, marked by a significant cyberattack and public backlash following the murder of CEO Brian Thompson [6].