Insurers Bilk Medicare of $50 Billion for Phantom Diagnoses
Insurers pocketed approximately $50 billion from Medicare in the three years leading up to 2021 for diagnoses they added to patient records, even when patients received no treatment for those added conditions, or the diagnoses contradicted doctors’ findings. This massive sum represents a significant misuse of taxpayer funds and raises serious concerns about the integrity of the Medicare Advantage system.
The Medicare Advantage program, designed to leverage private insurers for more cost-effective healthcare, has instead ballooned into a system costing tens of billions of additional dollars. This cost increase is partially attributable to insurers’ practice of adding diagnoses to those already recorded by patients’ physicians.… Continue reading
Matt Underwood