Omnicare Inc., the nation’s largest provider of pharmaceuticals and pharmacy services to nursing homes, will pay more than $124 million to settle claims that it allegedly offered improper financial incentives to skilled nursing facilities, the Department of Justice recently announced. The company gave discounts in return for the opportunity to provide medication to Medicare and […]
Omnicare
Healthcare giant Johnson & Johnson and its subsidiaries will pay more than $2.2 billion to resolve criminal and civil liability stemming from allegations it participated in off-label marketing and kickbacks to doctors and pharmacists, including those in the long-term care industry, the Justice Department announced Monday. The settlement includes a $149 million payment to settle […]
Omnicare (NYSE:OCR), a nationwide suppliers to nursing homes, has agreed to pay $120 million to settle claims against the company for illegal kickbacks in the form of drug discounts to certain providers. The company stated in its quarterly earnings report for the third quarter of 2013 that it will pay $120 million to settle the […]
Omnicare, Inc. (NYSE:OCR) has agreed to provide skilled nursing pharmacy services for Kindred Healthcare, Inc. (NYSE:KND), the company announced in an 8-K filing on Friday.The transition is expected to commence at the end of 2013. Kindred informed its current skilled nursing pharmacy service, PharMerica Corporation, on Friday that it would not be renewing a contract that […]
Assisted living residents have always used pharmacies, but with acuity levels rising across the industry, the need for better integration has reached its boiling point. Des Moines, Iowa-based Life Care Services, an LCS Company that manages senior living communities, agrees that rising acuity levels in senior living makes managing residents’ medications even more important. “It’s […]
Omnicare (NYSE:OCR), an institutional pharmacy service provider based in Cincinnati, Ohio, has started to roll out a new Concierge program to meet the needs of assisted living residents. “Our strongest offering has been toward skilled nursing, but [we’ve started] rolling out new services targeted at assisted living,” said Patrick Lee, vice president of investor relations […]
Happy New Year, senior housing professionals! It’s 2013, and we have a whole new round-up of people who have been making moves and shaking things up in the industry. Did any of your new year’s resolutions include taking a new position or joining a different company? Look for senior housing jobs nationwide on SHN’s job board. Employers: Take […]
Two years after exiting the long-term care pharmacy business, Walgreen Co. is getting back into senior care with plans to launch a national platform targeting hospice providers and cutting out the pharmacy benefit management “middlemen,” reports Crain’s Chicago Business. Like much of the long-term care industry, the hospice pharmacy industry is very fragmented and therefore attractive […]
Note: This covers Q3 earnings for Senior Housing Properties Trust (NYSE:SNH) & Five Star Quality Care (NYSE:FVE). SNH’s Net Income Falls in Q3 Due to Expenditures, Capital Distributions Senior Housing Properties Trust saw its net income fall to $25.6 million, or $0.15 per share, for the quarter ended Sept. 30, 2012, compared to $30 million or […]
Long-term care pharmaceutical provider Omnicare (NYSE:OCR) has agreed to settle a whistleblower lawsuit alleging it had paid a kickback when acquiring a pharmacy company and submitted false reimbursement claims to government health insurers, but has denied wrongdoing in court papers, reports Bloomberg Businessweek. The Covington, Ky.-based nursing home drugs supplier acquired Total Pharmacy Services LLC in […]
Subscribe
Receive industry updates and breaking news from SHN