Moving on: LHC Group Inc. says a federal investigation into its Medicare payments is complete and that the U.S. Securities and Exchange Commission does not plan to take any action against it. The Lafayette-based company provides health, hospice and other post-acute care to patients in their homes. The SEC began looking into the company’s Medicare reimbursement practices in 2010, following an investigation launched by the Senate Finance Committee months earlier that looked into whether providers made repeated visits to patients to trigger additional government payments.
Tightening the belt: Xavier University is instituting salary and hiring freezes, nonfaculty layoffs, and a 10% cut in the university’s contributions to employees’ health-insurance premiums as the school faces a $5 million operating deficit. Officials say the moves are a response to a 6.5% drop in fall semester enrollment, which is significant because tuition accounts for 70% of Xavier’s budget. Kenneth St. Charles, vice president for institutional advancement, tells The Times-Picayune the layoffs and freezes began Nov. 26, and the cut in Xavier’s contribution to employees’ premiums is to begin Jan. 1. More details can be found in the full story.
By the numbers: As President Barack Obama and Congress continue negotiating a plan to avoid the fiscal cliff, you might be wondering just what it all means for you and your family. Fortunately, The Washington Post has created a fiscal cliff calculator that computes what the dreaded budgetary scenario will cost individuals and families under the Senate Democratic and Senate Republican plans—as well as what it will cost if no compromise is reached. Check it out here.
