Insurance Fraud: What’s the Real Cost?

U.S. government and law enforcement estimates place the loss due to health care fraud as high as 10 percent of our nation’s health care expenditure, or approximately $226 billion each year.

Excerpt:

“The Association of Certified Fraud Examiners defines health care fraud as, ‘Intentional misrepresentation of a material (important) fact submitted on, or in support of a claim for payment of a health-care insurance claim, or the theft of money or property belonging to a health plan or health insurance company.’ Wikipedia defines it more simply as, ‘Any act committed with the intent to fraudulently obtain payment from an insurer.'”

Read More