A healthcare fraud case against the founder of Treasure Coast Dermatology was dismissed in federal court last week after Dr. Tim Ioannides agreed to a $2.5 million settlement with the U.S. Government. The move comes years after a former patient told authorities the physician allegedly billed Medicare for a procedure she never had, a violation of the False Claims Act.
Ioannides, a Vero Beach island resident who owns dermatology offices in Indian River, St. Lucie and Martin counties, insisted he had done nothing wrong. He called the government and its lawyers corrupt, and termed what happened to him a “shakedown.”
Ioannides’ deal does not admit liability and the allegations against the doctor were never proven. His medical license is unaltered, though his billing practices and books will be now subject to additional audits as part of an integrity agreement.
The patient who brought the original complaint to the government will receive $475,000 in the multimillion-dollar settlement deal. The False Claims Act allows whistleblowers to receive a portion of any financial recovery the U.S. Government is awarded.
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