Medicare Refund Request Issued To AmeriPath, Inc

Demand for $2.95 million refund causes AmeriPath’s stock price to decline by 65%

CEO SUMMARY: Regulators believe AmeriPath’s Ft. Lauderdale laboratory submitted claims during 1996 which were based upon improper procedure codes or lacked adequate documentation. AmeriPath “vigorously” disputes the situation. It is still uncertain as to whether this action represents a larger campaign that will target laboratories and pathologists for new issues involving Medicare billing and reimbursement. …

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