PARK CARDIOGRAPHICS REACHES AGREEMENT ON MEDICARE ISSUE
PARK CARDIOGRAPHICS REACHES AGREEMENT ON MEDICARE ISSUE TAUNTON, Mass., July 24 /PRNewswire/ -- Park Cardiographics, Inc.
("Park"), a Taunton-based medical services company, today signed an agreement with the U.S. Attorney's office to settle a civil matter relating to 1985-1988 medicare global billing for Holter monitoring services. In reaching the agreement, the government dropped all allegations of liability against Park.
While denying any liability in this case, Park has agreed to payment of $499,000 in order to avoid further business disruption and to put the matter to rest. According to Robert E. Adams, Park's senior vice president, "After a lengthy investigation, the government has determined that there is no cause for any further action. However, in an effort to resolve this civil dispute, we have entered into this settlement agreement. While we appreciate that the intent of any investigation is to eliminate abuses of the Medicare system, it is unfortunate that we and our clients have had to go through this." The government had alleged that Park should not have billed globally between 1985 and 1988 for Holter cardiac monitoring services when professional interpretations were performed by an attending physician. The practice of global billing includes charging for both the testing of patients and the interpretation of those test results by physicians. This practice had been the industry norm for many years before being disallowed in late 1988. Park has contended that because its services in New England were rendered primarily on a mobile basis during the period in question, providing both services was often the only way for patients without access to hospital facilities to receive the diagnostics and monitoring they needed. "During 1985-1988, Park billed Medicare on a global basis for Holter monitoring services," Adams said. "The physicians performing the interpretations were both attending and non-attending physicians. Park paid the interpreting physician a fair market value for his/her services from the global fee received. Park's position is that carrier regulations and policies permitted this until late 1988. Notwithstanding conflicting interpretations, however, I'm pleased that we have reached an agreement and we can now move forward," Adams concluded. Park Cardiographics, Inc. provides mobile and fixed-site diagnostic and imaging services in Massachusetts and several other states. The Holter cardiac monitoring division represents approximately four percent of the company's overall business. -0- 7/24/92 /CONTACT: Joseph J. Berlandi, 508-880-3700 ext. 218H, for Park Cardiographics/ CO: Park Cardiographics ST: Massachusetts IN: HEA SU:
TM -- NE005 -- 3136 07/24/92 16:02 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 24, 1992|
|Previous Article:||TOREADOR ROYALTY ANNOUNCES PRODUCING GAS ACQUISITION|
|Next Article:||MONEY SMALL INVESTOR INDEX: SMALL INVESTORS SWARM INTO SAVINGS BONDS|