As a precondition to this transaction, UHS has entered into a Corporate Investment Agreement (“CIA”) with OIG-HHS. Despite this, UHS already has a compliance program containing elements requested by the CIA. The company`s existing compliance program makes it well positioned to fulfill the CIA`s obligations in the future. view original content:www.prnewswire.com/news-releases/universal health-services-inc-announces-final-settlement-resolving-the-governments-investigation-of-our-behavioral-health-care-facilities-301091735.html Pursuant to the terms of the transaction agreements, the Company made net payments of approximately $117.3 million, or a net worth of approximately $9.7 million, pursuant to the tentative agreement previously announced in July 2019, on July 9 July 2020. millions of dollars. Aggregate funds previously and before accrued interest and individual fees, costs and claims arising out of or on behalf of third parties for a total amount of approximately $6.2 million. The final aggregate settlement amounts, as well as accrued interest and related fees and costs, did not differ materially from the reserves previously established in this context. KING OF PRUSSIA, Pa., July 10, 2020 /PRNewswire/ — Universal Health Services, Inc. (NYSE: UHS; “the Company”) has filed a Form 8-K with the Securities and Exchange Commission announcing that it has entered into definitive settlement agreements that resolve the civil aspects of investigations into its behavioral health facilities by the U.S. Department of Justice, the Office of the Inspector General of the Department of Health and Human Services (OIG-HHS) and various attorneys general. A self-report from a supplier to the OIG and the Texas OIG resulted in a fruitful collaboration between the agencies to secure a $7,000,000 transaction agreement. The Company disputes the allegations in this regard and the comparison does not constitute a finding of inappropriate behaviour or failure to provide appropriate care and care, in accordance with applicable rules and regulations, or an admission of fact or responsibility on the part of the Company or any of its subsidiaries with respect to behavioral health facilities.
UHS is pleased to have resolved this issue to avoid future distractions and the high cost of litigation, while ensuring that our focus remains unwavering on the excellent care provided to our patients and their families. Under the deal reached in May, Texas receives $1,400,000, which is paid six times a year over seven years. The balance is recovered by the federal government. You can read more about the OIG`s work in the latest quarterly report: tinyurl.com/TxOIGQRs The Gaines County provider itself has indicated that it has paid doctors more than the fair market value of their services, which is contrary to federal anti-kickback law. Steve Filton, Chief Financial Officer, 610-768-3300. . . .
