Medical provider fraud, waste, and abuse— which have largely eluded most insurers—is an insidious, often unseen, problem that can damage insurers’ margins.
Today, we can examine insurance trends that are likely to continue post-COVID-19. Here are some key takeaways for insurers as a new chapter unfolds across the industry.
It seems like every month there’s news of another medical fraud bust, often involving rings of various types of providers. But that’s just the tip of the iceberg.
It’s no secret that medical fraud is a big problem, with some sources estimating the cost at more than $200 billion annually.
Complex medical bills can make it difficult for adjusters—already overloaded with cases—to find potential fraudulent or excessive billing.
Endless investigative possibilities open up when you access ISO ClaimSearch® Decision Net® platform
ISO ClaimSearch® has helped property/casualty claims departments streamline claims handling, identify suspicious activity, and comply with various state regulations.