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Report: Feds To Ban Theranos Founder Elizabeth Holmes For 2 Years (cbsnews.com)
An anonymous reader writes: According to the Wall Street Journal, health regulators have proposed pulling the federal license for the company's California laboratory and banning its founder and CEO, Elizabeth Holmes, and company president Sunny Balwani from the blood-testing business for two years. The letter which the WSJ cited in its report found that Theranos had not corrected problems at its lab in Newark, California, and faced possible sanctions as a result. In October 2015, the WSJ reported all but one of Theranos' analyzers in use were off the shelf, and that their tiny samples may not always have been accurate. The company was facing allegations of data manipulation in late December 2015. Earlier this year, U.S. regulators found serious deficiencies at Theranos' laboratory in Newark, California, putting the company's relationship with the Medicare program in danger. Theranos has said that The Centers for Medicare and Medicaid Services (CMS) has not imposed sanctions on its Newark Lab. "Due to the comprehensive nature of the corrective measures we've taken over the past several months, which has been affirmed by several experts, we are hopeful that CMS won't impose sanctions," the company said in an emailed statement. "But if they do, we will work with CMS to address all of their concerns."
Except of course for stealing billions of dollars and pouring it into the healthcare industry without any more oversight.
Tell that to my friends that lost their plans, and now pay $5k/year(up from $2k/yr) more for private insurance with a higher co-pay, and poorer quality of care, along with reductions in drug coverage.
Om, nomnomnom...
Tell it to me too. I was out of work from December last year through the beginning of March this year, and didn't do COBRA. So, I don't have to pay the tax penalty this year because the period of time I was uninsured in 2015 was only one month. Come next year though, because of the way the ACA short-term exemption works, I will have to pay a penalty because I was uninsured for three consecutive months, and I will have gotten exactly zero benefit from the penalty.