Medicare Fraud: One Of The Most Profitable Crimes In U.S.

Oct 26, 2009

Several news outlets report on Medicare and insurance fraud.

Medicare "provides a rich and steady income stream for criminals who are constantly finding new ways to steal a sizable chunk of the half trillion dollars that are paid out each year in Medicare benefits," 60 Minutes reports. "In fact, Medicare fraud - estimated now to total about $60 billion a year - has become one of, if not the most profitable, crimes in America." Medicare fraud leaves little evidence: an FBI agent in South Florida said "the only visible evidence of the crimes are the thousands of tiny clinics and pharmacies that dot the low-rent strip malls. You don't even know they're there because there's never anyone inside. No doctors, no nurses and no patients." Yet one of those offices, a "tiny medical supply company" charged Medicare "almost $2 million in July and a half million dollars while 60 Minutes was there in August, but we never found anybody inside, and our phone calls were never returned."

The rest.

Source: Kaiser Health News