Molina Healthcare Posts $612 Million In Losses, Loses Two Big Contracts And A Lawsuit Against The Government

March 23. 2018

Molina Healthcare

This is a follow up to the boycott I called for last year against Molina Healthcare (I Do Not Recommend Using Molina Healthcare Who Are Cutting Corners And Killing Patients In The Process and BOYCOTT: Molina Healthcare Stock Downgraded And CEO Sells 15,000 Stocks Cashing Out $1,000,000 and Remember To Switch From Molina Healthcare This Enrollment Period).

A new report states Molina Healthcare just posted $612,000,000 million dollars in losses. The company has been taken over by new management in the face of its woes and the Molina Healthcare CFO, who is the last founding family member of the company, recently resigned. His brothers were fired.

Molina has been engaging in very questionable business practices that have left insured patients dead. Molina Healthcare is a publicly traded company on the stock market. To show false profits, they have been cutting corners in acts that have killed patients. To show these false profits for shareholders, Molina Healthcare has not been paying hospitals and doctors' offices.

The U.S. government pays Molina Healthcare for elderly Medicare and Medicaid patients. Molina Healthcare stopped paying hospitals and doctors' offices from the money the government gave them, who then either denied patients' medical treatment or stopped treating them and they died. As a result, so many hospitals and medical offices in America refuse to accept Molina Healthcare for the simple fact the company are not paying their bills.

Hospitals in U.S. states have sued Molina Healthcare for non-payment. One of the lawsuits was brought by 9 hospitals in Florida, as the government paid Molina Healthcare $112,000,000 for services rendered by the hospitals, but Molina kept $88,000,000 of the money and only gave the hospitals $30,000,000. Molina Healthcare has been willfully defrauding hospitals and medical offices across America.

Recently, Molina Healthcare sued the U.S. government over not giving them two new contracts they wanted that are worth billions of dollars. A judge just threw out Molina's lawsuit against the government. Considering Molina Healthcare's disgraceful track record of not paying hospitals and medical offices, they do not deserve the new contracts.

Another serious item of note, Molina Healthcare has also criminally violated HIPAA by committing Tier 4 violations, which are the most severe. More on that in a future article.

STORY SOURCE

  Judge dismisses Molina lawsuit challenging Medicaid contracts

The New Mexican Feb 26, 2018 - A judge Monday dismissed a lawsuit seeking to block the administration of Gov. Susana Martinez from proceeding at least temporarily with new contracts for health care companies to serve Medicaid recipients. State District Judge Gregory Shaffer dismissed the case brought by Molina Healthcare of New Mexico, which is challenging its loss of a contract to provide Medicaid managed care after Dec. 31...

http://www.santafenewmexican.com

Ex-Molina Healthcare CFO, the last founding family member at the company, resigns from board

Feb 27, 2018 12:50pm - John Molina, the former chief financial officer at Molina Healthcare, has resigned from its board of directors; his exit leaves the company without any members of its founding family on staff. John Molina has been on the company's board since 1994, according to an announcement. He was fired from his position as CFO in May of last year, alongside his brother, then-CEO J. Mario Molina, M.D. The pair are sons of the company's founder, C. David Molina. The Molina brothers were fired following financial strife at the company. Joseph W. White replaced John Molina as CFO...

https://www.fiercehealthcare.com