Blockchain: Putting the ‘Block’ On Healthcare Fraud, Waste, And Abuse

from http://www.nasdaq.com/article/blockchain-putting-the-block-on-healthcare-fraud-waste-and-abuse-cm817907
As the Republican party struggles with their Obamacare measures, massive issues still face the U.S. healthcare system: fraud, waste and abuse.

According to a report from the Department of Health and Human Services and the Department of Justice’s Health Care Fraud and Abuse Program (HCFAP), the federal government recaptured over $3.3 billion in healthcare fraud judgments and settlements, along with administrative actions, in the fiscal year of 2016. Since this initiative was established in 1997, HCFAP has recovered over $31 billion, with over $18 billion of that recovered since 2009.

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In 2016 alone, fraud sweeps nationwide have resulted in charges against 300 people. Those charged come from the ranks of doctors, nurses, physical therapists and home healthcare providers. Many are accused of bilking the Medicare and Medicaid system.

The Government Accountability Office (GAO) has been particularly active in efforts to identify federal programs “that are especially vulnerable to waste, fraud, abuse, and mismanagement, or that need transformative change.”

It’s here where Medicare and Medicaid programs are seen as particularly high risk.

There are also outsiders involved in nefarious acts that need to be accounted for. The theft of patient identities can be lucrative. Medical records are even more valuable to thieves than credit card numbers are, as they can be utilized to obtain prescriptions for controlled drugs.

Blockchain: Putting the ‘Block’ On Healthcare Fraud, Waste, And Abuse

As the Republican party struggles with their Obamacare measures, massive issues still face the U.S. healthcare.

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About Paul Gordon 1367 Articles

Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines.
He is the director of Social Cognito, an SEO/Web Marketing Company. You can reach Paul at pg@istate.tv

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