Large OH Health Plan Adds the Latest Prevention and Detection Technology in Its Battle Against Fraud
Large OH Health Plan Adds the Latest Prevention and Detection Technology in Its Battle Against Fraud
Submitted by Robin Mathias on Sat, 06/19/2004 - 10:33am. News and Commentary Large OH Health Plan Adds the Latest Prevention and Detection Technology in Its Battle Against Fraud - For Medical Mutual, This Emphasis on Anti-Fraud Activities is Critically Important Since Healthcare Fraud is Estimated to Cost American Consumers More Than $100 bln Annually BALTIMORE, 6/7/2004 /PRNewswire/ ViPS a provider of business intelligence… [Healthcare Fraud News]
According to the press release, Medical Mutual “often recovers $1 million or more per year in improper payments as a result of its vigilance.” This is a tiny fraction (.05%) of Medical Mutual’s annual revenue of $1.9 billion. It looks to me like currently they are probably only finding 1-5% of the fraud in their system. With ViPS software, they may be able to double or triple recoveries, but they will still be missing a vast majority of the fraud.
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