Thursday, December 6, 2007

Wonder Where the Money Goes in Healthcare?


Here is the answer:
Breaking News: UnitedHealth Group’s former chairman and chief executive officer, William McGuire, M.D., will forfeit more than $400 million under agreements reached with the company and the Securities and Exchange Commission over an options backdating scandal, on top of $200 million he has already relinquished.


3 comments:

Jonathan said...

Yet more from the Friday, 12/7/07 edition of The Wall Street Journal, "Dr. McGuire retains about 24 million stock options that currently could be cashed in for a gain of roughly $800 million, on top of about $530 million in pay he pocketed while running UnitedHealth from 1991 to 2006." and "At the end of 2005, Dr. McGuire had a cache of unexercised options valued at $1.78 billion."

Thanks UnitedHealth. Two of my physicians have left your network because your reimbursements aren't sufficient for them to take care of my wife and I profitably.

K said...

Where are the honorable ninja assassins when you need them?

(Man, I wish I was kidding as much as I ought to be.)

Anonymous said...

Doc,

Aside from your post, the DOJ has collected billions from those industries in the health care system for fraud in a short period of time, and this is expected to continue.