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May 05

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Recent Crackdown Demonstrates the Magnitude of Medicare Fraud

The US has charged over 100 individuals in the largest Medicare fraud crackdown to date.  The falsely submitted billings total over $450 million, approximately $60 million of which had been paid out.  The number of doctors, nurses, social workers and various other support personnel involved in this sweep demonstrates the pervasive nature of the fraud throughout all levels of the medical system.  If found guilty, these individuals face lengthy prison sentences in addition to paying restitution.

The FBI has over 500 agents and analysts assigned to investigating this type of fraud, and reports that there are currently 2,600 cases in some stage of investigation.

 

About the author

Renee Howdeshell

Renee Howdeshell is a founding member of Fulcrum Inquiry, an accounting, finance and economic consulting firm that performs damage analyses for commercial litigation, forensic accountings, royalty & distribution audits, financial investigations, and business valuations. Ms. Howdeshell holds a degree in Finance and Marketing from the University of Virginia's McIntire School of Commerce and is a Certified Public Accountant (CPA) and a Certified Fraud Examiner (CFE). She has testified as an expert witness in federal court, CA state court and arbitration regarding the results of her work. She can be reached at (213) 787-4112 and her resume is available at www.fulcrum.com.

Permanent link to this article: http://betweenthenumbers.net/2012/05/recent-crackdown-demonstrates-the-magnitude-of-medicare-fraud/

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