Better Lives with Care.Wallet: Fraud in Healthcare

At the beginning of 2019, a $1.2 billion Medicare scheme took advantage of hundreds of thousands of seniors in the US. This is just a small piece of the billions of dollars that healthcare fraud costs consumers and insurance providers annually. Fraudulent medical practice costs the federal government an estimated $30 billion to $140 billion annually. Yet, federal prosecutors have sadly only recouped roughly $2 billion a year in fraud and abuse settlements since 2010.

Healthcare fraud can come from many different directions. Some people might think about a patient faking injury is the largest contributor, but actually, much of fraud is done by providers.

Providers often have financial incentives performing unnecessary surgeries or claiming work they never even did. This leads to different kinds of fraud that can all be difficult to detect on a claim-by-claim basis.

Solve.Care brings a solution that helps eliminate healthcare fraud from the market. Using Care.Wallet, patients will never pay for unnecessary healthcare services. They can manage their prescriptions and appointments with Care.Wallet and even use a How Are You Feeling Today (HAYFT) Care.Card to monitor their health. Physicians, care coordinators, or family members can always be updated on all patient’s health records, including bills and insurance payments, in real-time. With a book-a-ride solution, the patient visits a doctor only when it’s necessary. All is done securely and data, once entered, can’t be tampered with.

These solutions and others offered by the Solve.Care Platform help create a healthcare system that’s better and more accessible for those who truly need it, wherever they may live.

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