Texas’ ArthroCare medical device company CEO and two other executives resign.
West Palm Beach, FL (JusticeNewsFlash.com)–ArthroCare Corp., a medical device company, specializing in products for doctors and surgeons, received the resignations of Mike Baker, CEO and two other top company executives on Thursday. The Austin American-Statesman reported the medical device company, who is famous for manufacturing a wand used in percutaneous microdiscectomy surgical procedures, fell under investigation by the U.S. Securities and Exchange Commission (SEC) www.sec.gov and the U.S. attorney’s offices in Florida and North Carolina.
ArthroCare has been investigated by state and federal authorities regarding their insurance billing and other practices, especially with ArthroCare’s spine unit and its connection with DiscoCare. DiscoCare is a Florida insurance reimbursement firm who, surprisingly, has no other customers other than ArthroCare. The company is claiming the resignations came because an internal audit discovered double billing of insurance companies, inaccurate claims, encouraging doctors to use false coding to promote higher reimbursements by insurance companies and federal agencies.
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