Industry Note:
False Claims Act Nets Nearly $5 Billion in FY 2012
Published on Fri Dec 14, 2012
Federal watchdog agencies netted nearly $5 billion in False Claims Act collections -- setting a massive record, reports the Department of Justice. The total came from the fiscal year 2012, which ended on Sept. 30. More than $3 billion came from health care entities for defrauding Medicare, Medicaid and other government programs, setting yet another record in fraud collections. The DOJ also highlights that about two-thirds of the money recovered stemmed from whistleblowers. The total figure was up from $3.2 billion collected in FY 2011. The DOJ attributes the large jump in part to the huge GlaxoSmithKline settlement, totaling $1.5 billion, for promoting drugs not approved by the Food and Drug Administration and paying kickbacks to prescribing physicians, the Washington Post reports.
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