The FBI recovered millions of dollars from healthcare fraud cases in FY07. A total of 2,493 cases resulted in 839 indictments and 635 convictions for healthcare fraud, according to the FBI's report to the public on financial crimes.
National FBI initiatives targeted durable medical equipment among other healthcare services. Local initiatives also targeted medical equipment as well as home health, pharmacy, and clinic services.
The most prevalent fraudulent schemes include: upcoding items (billing for more expensive equipment than was provided), kickbacks and excessive services or items.
Wright Medical in SEC investigation
Wright Medical Group (Arlington, Tennessee) said it is part of an informal SEC investigation over potential violations of an act banning bribes in order to boost foreign sales.
In an SEC filing, the company said its Wright Medical Technology subsidiary received a letter from the SEC regarding the informal investigation into the sale of medical devices in a number of foreign countries by medical device makers. It cited potential violations of the Foreign Corrupt Practices Act, which essentially bars a company from paying off government officials and others in order to gain a better position in that market.
Michael Price Center opens in New York
Albert Einstein College of Medicine of Yeshiva University (Bronx, New York) has opened its 223,000-square-foot Michael F. Price Center for Genetic and Translational Medicine/Harold and Muriel Block Research Pavilion. The five-story, $220-million facility is the largest research building to be constructed in the Bronx in half a century. It houses 40 research teams, with 400 scientists, dedicated to advancing a broad array of biomedical research.
"We are extremely grateful for the $25-million gift of Michael F. Price and the $22-million gift of Muriel Block, because their generosity led to the creation of this spectacular new building," said Allen Spiegel, MD, The Marilyn and Stanley M. Katz Dean of Einstein. "The Price Center/Block Research Pavilion will make possible rapid, bench-to-bedside advances in medicine through collaborative research by our world-renowned scientists and physicians."
The Albert Einstein College of Medicine of Yeshiva University is home to some 2,000 faculty members, 750 MD students, 350 PhD students (including 125 in combined MD/PhD programs) and 380 post-doctoral investigators.
Siemens Healthcare opens new radiopharmacies
Siemens Healthcare (Malvern, Pennsylvania) has opened two new radiopharmacies in Las Vegas and Pittsburgh.
These two new facilities will produce imaging biomarkers that are a component of PET-CT tests used to diagnose cancer and cardiac and neurological ailments.
PETNET Solutions, a fully owned subsidiary of Siemens Medical Solutions USA, operates the largest PET radiopharmacy network with 50 radiopharmacies and distribution centers in the U.S., Korea and the UK that produce and distribute PET radiopharmaceuticals to hospitals, clinics, and research facilities for PET imaging.
The new facilities produce and supply the required radiopharmaceuticals to area hospitals that have PET-CT, which will help ease the burden of healthcare providers to produce their own radiopharmaceuticals.