A Chicago physician pled guilty today to healthcare fraud charges brought by the U.S. attorney in Chicago.
Ravindra Jairath, M.D., 58, admitted to fraudulently billing Medicare and private insurers for more than $500,000 in unnecessary tests between 1998 and 2000.
Jairath, who owned the Jairath Heart and Wellness Center in Chicago, admitted to billing insurers for hundreds of painful nerve conduction velocity tests and other exams and falsifying patient medical records to conceal the scheme.
He pocketed more than $250,000 from the tests.
In February, he was indicted on nine counts of healthcare fraud and six counts of mail fraud.
In the 18-page plea agreement, Jairath admitted that the tests, which involved electric shocks to patients' arms and legs, were unnecessary and would not help treat or diagnose patients.
He also failed to tell patients and insurers that he had a financial interest in having ultrasound, EKG, stress and echocardiogram tests performed.
In the plea, he agreed to repay $250,000 and faces up to five years in prison and a fine of $250,000.