UnitedHealth Group confirms DOJ investigation over Medicare billing

UnitedHealth Group, a leading Medicare Advantage provider, is cooperating with federal investigations into its billing practices. The Department of Justice launched both civil and criminal probes following media reports. These investigations focus on how UnitedHealth records diagnoses to increase Medicare Advantage payments. The company insists its practices are sound and is fully cooperating with the authorities. UnitedHealth's Medicare Advantage business, covering over 8 million people, has faced recent pressures due to rising costs and rate cuts. The investigations follow a period of setbacks for the company, including a CEO's death, forecast cuts, and a significant stock price decline. The company's stock price has dropped substantially since its all-time high last fall. UnitedHealth is scheduled to release its second-quarter earnings next week. The company's overall revenue exceeded $400 billion last year.