The California Public Retirement System (CalPERS) just won a $895 million (yes, million) dollar settlement against health care giant UHC for their illegal stock option granting program. These options enabled the management of UHC to draw millions of dollars from the company by back dating stock options. Bravo CalPERS and thanks for standing tall.
UHC has lowered projections for share holders. So what else is new? They’ve lowered payment to my practice for years to a degree that UHC represents my lowest paying private insurer. They also anticipate a 4000 job layoff this year.
There’s a bad intersection coming. I don’t know how it’s going to play out, but costs keep rising, reimbursement keeps dropping. Throw an election into the mix and it’s going to be an interesting next couple of years.
Jeffrey A. Oster, DPM
Medical Director
Myfootshop.com
