UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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CURRENT REPORT ON FORM 8-K
IMAC Holdings, Inc. (the “Company”)
October 5, 2021
| Item 8.01. | Other Events. |
On October 5, 2021, the Company was informed by CGS Administrators, LLC, a Centers for Medicare & Medicaid Services (“CMS”) contractor, that, as a result of the Company’s appeal and upon further review by the contractor, it was reversing the statistical extrapolation used to claim that the Company was overpaid by CMS in the amount of $2,918,472 for the period from February 2017 to November 2020. The corrected overpayment amount claimed by the contractor has been reduced to $5,328. The Company made this payment and will receive back amounts previously withheld by CMS, plus interest, based on the original claimed CMS overpayment.
The possible repayment of the original claimed CMS overpayment was previously reported by the Company in its quarterly report for the quarter ended June 30, 2021. The Company awaits the outcome of a secondary appeal of the error rate calculations.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: October 7, 2021 | IMAC HOLDINGS, INC. | |
| By: | /s/ Jeffrey Ervin | |
| Name: | Jeffrey Ervin | |
| Title: | Chief Executive Officer | |