Sunday, September 26, 2004

Read this, make money?

Fraud adds cost to health care industry

"...The Blue Cross and Blue Shield Association recently reported their estimate of health care fraud at $85 billion per year. Another source, the National Healthcare Anti-Fraud Association, puts their estimate at $42 billion annually. The U.S. Department of Justice puts their estimates at $100 billion per year. No matter who’s more accurate, when you consider the U.S. healthcare industry is spending $1.7 trillion annually (2003 figures) then that means anywhere from 2 percent to 6 percent of health care spending is related to fraud. Hey folks, that big money, even by Mike Mckenzie standards...

One unexpected ally in the battle against fraud is a law that dates back to the Civil War. The False Claim Act allows people who file suits on behalf of the government to keep as much as 25 percent of the total recovered. These lawsuits, filed by private-sector whistleblowers, are paving the way for the government to recover million of dollars of fraudulent claims, many against drug companies. In 2003, the Department of Justice reported that it recovered $2.1 billion under the False Claims Act with almost three- fourths of that total coming directly from suits initiated by private citizens who, in turn, reaped $319 million in rewards..."

Wandering Mind

may not be suitable for political vegans