Acadiana Business

LHC Group: SEC investigation complete

by Leslie Turk

Lafayette-based home health and hospice provider says the SEC staff won't recommend any action against the company. LHC Group Inc. announced Tuesday that the Securities and Exchange Commission has notified the company that the agency's investigation into its participation in the Medicare Home Health Prospective Payment System has been completed. The SEC staff does not intend to recommend any enforcement action by the commission, according to LHC Group's press release.

The Lafayette-based provider of home health and hospice services (Nasdaq:LHCG) announced in July 2010 that the SEC asked it to preserve all documents related to its Medicare reimbursement policies.

Prompted by a Wall Street Journal investigative story earlier that year, the Senate Finance Committee began looking into whether home health providers intentionally increased the number of therapy visits to trigger higher reimbursements. The SEC investigation followed that inquiry.