UnitedHealth Group revealed Thursday it is facing Department of Justice investigations over its Medicare billing practices, adding to a string of setbacks for a company that owns the nation's largest and most powerful private insurer.
UnitedHealth also said it has launched a third-party review of its business policies and performance metrics.
The company told CNBC that it expects to complete that review toward the end of the third quarter.
In the filing, UnitedHealth said it "has full confidence in its practices and is committed to working cooperatively with the Department throughout this process.".
In response at the time, the company said it stands "by the integrity of our Medicare Advantage program.".
The Journal also reported in February that the DOJ is conducting a civil investigation into whether the company inflated diagnoses to trigger extra payments to its Medicare Advantage plans.
But on Thursday, UnitedHealth said independent audits by the Centers for Medicare and Medicaid Services "confirm" that the company's practices are "among the most accurate in the industry. »