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Universal Health Services officials 'optimistic' for resolution in DOJ investigation soon

October 29, 2018 / Tina Reed

King of Prussia, Pennsylvania-based Universal Health Services is cautiously "optimistic" it is getting close to a deal with the Department of Justice more than three years after it disclosed it was under investigation for billing practices at its behavioral health facilities. The company has been adding increasing amounts to its reserves for a potential settlement with the government over the civil investigation of its behavioral health care facilities, putting $48 million into the traunch last quarter and a total of $70.4 million for the year so far. The reserve is reflective of the company's most recent offer to the government, said UHS' Chief Financial Officer Steve Filton. "The increases to our reserves are coming more frequently and in bigger chunks. We view that as a good thing," Filton said. I think it's reflective of the settlement negotiations with the government are meaningful, the pace of them has picked up and the gap between where our offers...