New Jersey cardiologist admits to $1.9M healthcare fraud scheme

Fazal Panezai, MD, a cardiologist in Morganville, N.J., pleaded guilty to participating in a healthcare fraud scheme that led to more than $1.9 million in insurance reimbursements for false claims.

Dr. Panezai owned and operated Matawan-Aberdeen Heart and Medical Center, submitting false claims to at least six insurance companies, according to an April 12 news release from the Justice Department. 

The claims charged insurance companies for office visits that never actually occurred or did not take place for the length Dr. Panezai claimed. 

Dr. Panezai submitted claims for office visits on a single day that totaled more than 24 hours, and he billed payers for more than $80,000 for visits when he was out of the U.S. and not conducting any office visits.

Healthcare fraud carries a maximum sentence of 10 years in prison and a maximum fine of $250,000 or twice the gain or loss from the offense, whichever is greater, the release said.

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