October 2014 Archives

Health Care Innovators Alert! $840 Million Available for Quality Improvement Initiatives

On October 23, 2014, the Secretary of the Department of Health and Human Services announced the "Transforming Clinical Practice Initiative." The Initiative is intended to foster large-scale delivery system transformation by leveraging providers who have proven success in delivering less costly, quality patient care to teach and guide other providers to do the same.

Are You Covered? Health Insurance Open Enrollment Period Starts Nov. 15, 2014

Per the Affordable Care Act, individuals must have health insurance coverage in 2015 or pay a penalty to the IRS of either 2% of income, or $325 per adult ($162.50 per child) - whichever is higher.

Stock Fraud "Pump and Dump" Schemes Don't Just Happen in the Movies

The critically acclaimed movie, "The Wolf of Wall Street," directed by Martin Scosese and released in 2013, recounted the story of a former stockbroker convicted of fraud crimes related to stock market manipulation as part of a penny stock scam. Leonardo DiCaprio played the lead character, based on a real person named Jordan Ross Belfort. Belfort's story had previously inspired the movie "The Boiler Room," starting Giovanni Ribisi and Ben Affleck, among others.It seems art imitated life... which imitated art again. Eight people were recently indicted on charges of defrauding thousands of investors in penny stocks, through a $290 million dollar "pump and dump" scheme. In a "pump and dump" scheme, a small group of speculators accumulate a large number of shares in a stock. Once their positions are in place, they will release positive news reports about the stock in order to drastically affect people's perception. The intent is to get investors to start trading irrationally and increase the price of the stock. Before the news is discovered to be false, the original speculators exit with large profits.

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