Medical Fraud Takes Many Forms And Has Many Victims
DES PLAINES, IL, March 28, 2023 —The National Insurance Crime Bureau (NICB), the insurance industry’s association dedicated to predicting, preventing, and prosecuting insurance crime, is pleased to release its latest issue of The NICB Informer. The edition focuses on medical fraud and the impact it has on insurers, in addition to exploring the new and emerging threats in this field.
“Medical fraud can be committed by patients, providers, and others who intentionally deceive the health care system and insurers to receive unlawful benefits or payments, and this type of crime is especially insidious and far-reaching,” said David J. Glawe, President and CEO of the National Insurance Crime Bureau.
With an aging population, increasing drug prices, and more than half of the population suffering from at least one chronic disease, health care spending in the United States jumped to an astounding $4.3 trillion in 2021, according to the Centers for Medicare and Medicaid Services.
“With this level of spending comes fraud, which has had a catastrophic impact on the nation’s health care system and economy,” Glawe said.
Within this edition, readers will also learn more about durable medical equipment fraud, PPP loan fraud committed by medical providers, and a recap of the especially devastating hurricane season in 2022.
The publication is aimed at providing insurance industry executives with anticipatory intelligence to help identify risks and emerging threats to the industry. Anyone interested in receiving a free digital copy of The NICB Informer can sign up or send an email to TheNICBInformer@nicb.org to be added to the distribution.