Cardiologist loses medical license over years-long fraud scheme
The New Jersey State Board of Medical Examiners has permanently revoked the medical license of Fazal Panezai, MD, a cardiologist who faces up to 10 years in prison for participating in a years-long fraud scheme.
Panezai has already admitted to submitting false claims to at least six health insurance benefit programs for office visits that either never happened or did not happen for the length of time he claimed. For example, he once submitted claims for 27.9 hours of office visits that he said all occurred on the same day. The scheme, which lasted from January 2017 to December 2022, included more than $1.9 million in false claims.
Panezai also faces an unrelated charge of fourth-degree criminal sexual contact due to an alleged incident with a patient in 2018. The New Jersey Office of the Insurance Fraud Prosecutor is currently investigating the patient’s claim
According to an order passed by the State Board in October, Panezai is not allowed to have contact with any patient in the state of New Jersey. He has been ordered to divest himself from any current or future financial interest in the practice of medicine anywhere in the state. In addition, he must provide written details about where all patient records have been secured—and how they can be obtained.
“We hold physicians to professional standards befitting the trust the public and their patients place in them,” New Jersey Attorney General Matthew J. Platkin said in a statement. “When they fall short of those standards, as this doctor did, they must be held accountable. We will continue to promote public safety and protect the integrity of New Jersey’s medical profession by removing bad doctors from practice.”
“There is no place in New Jersey’s medical profession for conduct such as this,” added Cari Fais, director of the New Jersey Division of Consumer Affairs. “The action announced today ensures this doctor will never again practice medicine in our state.”
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.