Prosecutions for healthcare fraud increase by 85 percent since 2010

Recently released federal statistics have shown that national healthcare fraud prosecutions have increased by 85 percent since the end of 2010, partially as a result to stepped-up efforts to enforce fraud laws under the Obama administration. The Transactional Records Access Clearinghouse (TRAC), a non-partisan group, released the statistics which show that there have been 903 prosecutions in 2011 so far. That number is 24 percent higher than the total for all of 2010, when there were 731 healthcare fraud prosecutions through various federal agencies nationwide. Furthermore, TRAC statistics have shown…

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Industry leader fights fraudulent claims with new technology based tools

Claims typically account for up to 80% of an insurance company’s costs, making the way the claims process is managed vital to a company’s profitability. This is particularly true in times of economic uncertainty, with growing pressures to settle claims faster with transparent fairness – but with fewer resources.  Unfortunately, the claims process is typically time-consuming and labor-intensive, involving multiple systems, outdated technology and distributed operational units. The resulting inconsistent processes and inefficient data management sap resources and slow turnaround times, which leads to negative customer experiences.  Predictive insurance claims…

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