Wednesday, April 07, 2004

Doctor Evil

Since Senate Majority Leader Bill Frist recently took it upon himself to slam Richard Clarke as a money-grubber, we have every right to ask how Frist acquired his wealth. The short answer: Corporate crookedness of the medical kind.

Perhaps the best recounting of Dr. Frist's financial malpractice can be found in this expose by Doug Ireland of the L.A. Weekly. Here's a sample:


Frist was born rich, and got richer — thanks to massive criminal fraud by the family business. The basis of the Frist family fortune is HCA Inc. (Hospital Corporation of America), the largest for-profit hospital chain in the country, which was founded by Frist’s father and brother. And, just as Karl Rove was engineering the scuttling of Trent Lott and the elevation of Frist, the Bush Justice Department suddenly ended a near-decadelong federal investigation into how HCA for years had defrauded Medicaid, Medicare and Tricare (the federal program that covers the military and their families), giving the greedy health-care behemoth’s executives a sweetheart settlement that kept them out of the can.

The government’s case was that HCA kept two sets of books and fraudulently overbilled the government. The deal meant that HCA agreed to pay the government $631 million for its lucrative scams — which, on top of previous fines, brought the total government penalties against the health-care conglomerate to a whopping $1.7 billion...

No comments: