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Recently, with its $323 million settlement with McKinsey to resolve allegations that through its advice McKinsey caused Purdue Pharma to submit false claims to Medicare for medically unnecessary scripts of OxyContin, the DOJ has emphasized holding third parties accountable when they have caused the submission of false claims. These third parties increasingly include private equity firms, particularly in the healthcare industry, whom DOJ has identified as targets for its enforcement activity. DOJ’s scrutiny comes on the heels of several research studies showing higher mortality rates, higher costs and harmful impacts on quality of care in PE-owned healthcare entities. Massachusetts recently amended its False Claims Act to hold liable PE investors who know their healthcare portfolio company has violated the FCA but fails to disclose that information within 60 days of identifying it. In this webinar, topics of discussion will include:
- When do private equity companies become liable for fraudulent acts by the companies in which they invest?
- How do private equity companies ensure safety from liability?
- How do companies and their PE funders work together to remain diligent?
- Lessons Learned from successful FCA cases against PE companies that can be applied to other healthcare companies facing scrutiny from DOJ and the Massachusetts Attorney General?
Learning Outcomes:
- Examine the increased risks of federal and state enforcement actions against healthcare entities that are owned by private equity
- Identify the types of misconduct that have given rise to successful False Claims Act cases against healthcare companies
- Understand the scientific studies that have caused legislators and regulators to scrutinize healthcare companies because of findings that the quality of care in these companies is reduced and costs of care are increased
- Discuss strategies for how healthcare entities can decrease these risks and remain vigilante in a landscape with increased regulatory enforcement
Areas Covered in the Session:
- What is Private Equity
- Why is PE Heavily Invested in Healthcare
- Negative Impacts of PE Investment on both the Cost and Quality of Healthcare Delivered in healthcare companies/ providers
- DOJ’s Statements that PE Firms are Potential Targets of False Claims Act Cases/ Enforcement Focus
- Discussion of DOJ Settlements with PE Firms for alleged violations of False Claims Act
- Discussion of Case Law generated
- Close Look at the Job Titles and Positions of the Whistleblowers
- Review of Massachusetts’ Newly Enacted Amendment to its state False Claims Act, effective April 1, 2025, holding investors in healthcare companies liable if they know about the portfolio company’s violation of the FCA but fail to disclose that info w/i 60 days of identifying it.
- Best practices to Minimize Risk
- Live Q&A Session
Recommended participants:
- Healthcare Providers
- Compliance Officers
- Medical Coders
- Coding Analysts
- Coding Managers
- People working in CDI (Clinical Documentation Integrity/ Improvement) and Coding Compliance
- Medicare Revenue Management
- Insurance and Health Data Analysts
- Risk Adjustment Auditor
- Risk Capture Auditor
- HCC Consultant
- Healthcare Technology Officers
Presenter Biography:
Mary Inman, Esq., is a founding partner of Whistleblower Partners, a boutique law firm that specializes in representing whistleblowers worldwide under the U.S. whistleblower reward programs, including the SEC, CFTC, IRS, DOT and FinCEN programs. Mary’s successful efforts to recruit U.K. whistleblowers to file tips under the U.S. whistleblower programs were featured in the New York Times article “Law Firm Sees Britain as Hunting Ground for U.S. Whistleblower Cases.” Her successful representation of three healthcare whistleblowers and the personal toll whistleblowing exacted on these clients was featured in the New Yorker. Mary represents renowned whistleblowers Tyler Shultz (Theranos), Frances Haugen (Facebook/ Meta) and Mark MacGann (Uber) and is a regular commentator on whistleblower matters for the Financial Times, BBC, New York Times, Wall Street Journal, Reuters and Financial News. Over her 27 years in this field, Mary has represented whistleblowers who, while working side-by-side with the Government, have successfully resolved cases alleging customs fraud, risk adjustment fraud, defense fraud and procurement fraud. Mary is also a Founding Board member of Psst. org, a new nonprofit seeking to connect whistleblowers and collectivize the act of speaking out.
Additional Information:
After registration, You will receive an email with login information and handouts (presentation slides) that you can print and share with all participants at your location.
System Requirement:
- Internet Speed: Preferably above 1 MBPS
- Headset: Any decent headset and microphone which can be used to talk and hear clearly
Can’t Listen Live?
No problem. You can get access to an On-Demand webinar. Use it as a training tool at your convenience. For more information, you can reach out to the below contact: Toll-Free No: +1 800-757-9502 Email: cs@waymoreeducation.com