India, Feb. 21 -- UnitedHealth Group (UNH) shares slipped 8% on Friday morning hurt largely by a report that the U.S. Department of Justice is investigating the healthcare giant's Medicare billing practices.
According to The Wall Street Journal, the DOJ is investigating whether UnitedHealth tends to over-diagnose conditions that can earn extra payouts from the Medicare Advantage program.
The newspaper had reported on allegations of the practice in December, with doctors telling the outlet they were trained to "document revenue-generating diagnoses, including some they felt were obscure or irrelevant."
However, the company refuted the Wall Street Journal's claims, stating the report was misinformation.
"The Wall Street Journal continues ...