Henry Schein Business Suspended From Receiving Medicare Payments
Dental services firm is deferring millions in revenue pending the resolution of a federal audit.
May 3, 2022
Henry Schein (HSIC), a dental products and services firm, was recently suspended by the Centers for Medicare & Medicaid Services (CMS) from receiving payments from Medicare. The company is allowed to continue performing and billing for Medicare service with payments being deposited in an escrow account pending the resolution of a federal audit.
Henry Schein did not disclose which of its businesses was suspended. The company hasn’t recognized revenue for the services being audited and has deferred a total of $8 million— $4 million in the fourth quarter 2021 and first quarter 2022.
Related: SDC, ALGN, XRAY
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