Phamatech pays up over $3 million in settlement agreement over Medicare blunder
Phamatech, a medical technology company based in San Diego, California, has agreed to write up more than $3 million worth of funds as it agrees to settle its case contending the company’s submission of fraudulent claims to Medicare, enabling them to receive reimbursement from the government for its unnecessary laboratory testing. The announcement of the Phamatech Class Action Settlement comes after more than two years when the case was filed by government prosecutors alleging Phamatech’s misdeeds.
The company’s modus operandi includes them working as partners with a medical clinic. The clinic will then order testing to be conducted by Phamatech for its patients that are a part of Medicare. This went on for about two years, government officials said, as the company continued to pay a fee for each Medicare patient specimen that Imperial Valley Wellness will refer to them for testing. Authorities also add that many of the tests conducted were not necessary therefore should be ineligible for reimbursement of funds from Medicare.
Tuan Pham, CEO and founder of Phamatech, has agreed to pay the sum to settle the allegations filed that the company has violated the law.
Editor’s note on Phamatech Settlement:
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