A major international accounting firm paid $17 million as part of a settlement to the receiver for an insolvent health maintenance organization, or HMO.
John Genovese, a partner at Genovese, Joblove & Battista in Miami, led a team that scored a settlement in an ongoing receivership case involving a failed health care maintenance organization, Physicians United Plan. Genovese and his team worked on behalf of the Florida Department of Financial Services as receiver for the failed HMO that at one time reported revenues of $375 million.
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