Gentiva Health Services, Inc., is a Delaware corporation headquartered in Atlanta, GA, is one of the largest publicly traded home health companies that provide home health services and hospice care in the United States.
On April 26, 2010, The Wall Street Journal released an article analyzing therapy utilization patterns at Gentiva that suggested that the company was taking advantage of the Medicare reimbursement system by providing medically unnecessary patient care. Specifically, the article alleged that analysis showed that the number of in-home therapy visits tracks Medicare financial incentives (this is because Medicare reimbursements are determined in part by the number of at-home therapy visits each patient receives, with an extra fee kicking in as soon as a patient hits a certain number of visits). On May 13, 2010, The Wall Street Journal reported that the US Senate Finance Committee (“Finance Committee”) launched an investigation into the practices of Gentiva (and other companies) that provide in-home therapy visits reimbursed by Medicare, and that “[t]he committee is investigating whether the companies deliberately boosted the number of home therapy visits to trigger higher Medicare reimbursements.” The Finance Committee has also requested documents from Gentiva on home therapy visits from 2006 to 2009. In July 2010, Gentiva disclosed that it was being investigated by the SEC regarding Medicare billing. The SEC also requested documents related to the Company’s participation in Medicare, as well as the documents and information the Company produced in response to the Finance Committee’s investigation.
The firm is investigating claims of breaches of fiduciary duties by Gentiva’s directors.
If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.
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