Polymedica probe
This article was originally published in The Gray Sheet
Executive Summary
U.S. attorney in Miami with assistance from the FBI and HHS Inspector General are investigating allegations of fraud, improper revenue recognition and obstruction of justice by the DME distributor, Polymedica notes in a 10-Q filed with the Securities & Exchange Commission. Both civil and criminal investigations are being conducted, and the company says it is cooperating. In June, the U.S. attorney for Southern Illinois also issued a subpoena to the Woburn, Massachusetts firm's Liberty Medical unit concerning documents related to Medicare reimbursement of "depth shoes and inserts," the filing states. In April, the SEC completed an investigation of Polymedica related to Medicare over-billing, declining to recommend further action (11"The Gray Sheet" April 15, 2002, p. 22)...