Philips will pay $62M to settle corruption allegations

The accusations pertain to the Amsterdam-based corporation’s sales of diagnostic imaging equipment in China, the SEC announced May 11. 

“Interestingly,” experts noted, despite such decreases, average payment amounts nearly tripled year-over-year, from $581 to $1,607 in 2020.

The nation's largest insurer reportedly breached its contract with the PE-backed multispecialty group by “unilaterally reducing reimbursement rates.” 

The specialty’s $329,080 average salary placed it behind four other medical specialties, along with “athletes and sports competitors," according to the Department of Labor.