fraud

What is Health Care Fraud and How to Deal With It

One of the things you may get yourself into is health care fraud. You may not know it right away, but it’s essential to be keen. Hence, you must know what it is and its form so you won’t be fooled into it. 

What is Health Care Fraud?

As said by the FBI, health care fraud is the act of deceiving private or government healthcare programs. These actions usually defraud health care providers, companies, or individuals. 

Health care fraud occurs when a provider or a consumer purposely presents or persuades someone else to file fraudulent or misleading information utilized in determining the amount of health care benefits payable. It is a white-collar crime that comes in the form of filing of deceptive health care claims to make a profit. 

Commonly, health care frauds may come in the form of:

  1. Fraudulent insurance cards offer
  2. Bogus health insurance marketplace assistance
  3. Stolen health information, medications, supplements, weight loss products, or pill mill practices.

Categories of Health Care Fraud

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There are two categorizations of health care fraud: the provider health care fraud, and consumer health care fraud

Examples of provider health care fraud include:

  • If the health care provider billed you for unperformed services.
  • If a medical practitioner falsifies a patient’s diagnostic results, or do such acts to prove tests for surgeries or other procedures even if it’s not needed in the medical aspect.
  • If they falsified procedures that they performed to get payment for the services that are not performed.
  • Upcoding – They billed you for a more expensive service than what they performed.
  • Unbundling – They charged you for every stage of a procedure, even if it’s not supposed to be a separate procedure.
  • If the practitioner takes bribes for patient referrals.
  • Rejecting patient co-pays or deductibles and billing the insurance carrier extensively.
  • Charging the patient more than the co-pay amount even if the benefit plan through a managed care contract already settled the bills in prepaid or in full.

Meanwhile, examples of consumer health care fraud include:

  • A person files for claims for unreceived services or medications. 
  • A patient is falsifying or modifying bills or receipts.
  • A person is asking someone’s coverage or insurance card for personal use.

How to Avoid Health Care Fraud

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Anyone can fall victim to healthcare fraud, but you can take certain precautions:

  • Do not sign unfilled insurance claim forms.
  • Never issue your medical provider a blanket authorization to charge for services rendered. (Blanket authorization is a formal, written consent endorsed to an individual to carry on with activity that doesn’t need additional approval.)
  • Be informed of the expected charges from your medical providers.
  • Get acquainted with your insurer and provider and try to understand the benefits statement.
  • Never engage with door-to-door or telephone salespeople who promise free medical services or equipment.
  • The only people whom you can entrust your insurance/medicare identification are the practitioners who already provided you with medical services.
  • Have a detailed record of all your health care appointments.
  • Be knowledgeable when your doctor ordered medical equipment for you.
  • Do not get yourself fooled by spam email, internet advertisements, links in forums or social media, and questionable websites. Before clicking on any link, be sure to watch out for these red flags

Now that you’re aware of what healthcare fraud is, the most important thing to do next is to keep constant vigilance. If you become a victim of healthcare fraud and need help, you can visit www.healthcarefraudgroup.com to learn more about what you can do to protect yourself. 

The Bitcoin Boom: Asset, Currency, Commodity or Collectible?

Everyone has heard of Bitcoin. And the ones that didn’t are probably too old, or they’ve lived under a rock the past decade. 

But what is Bitcoin? Is it an asset, currency, commodity or a collectible? The opinions are different. Some people think that everything about Bitcoin is a fraud, and others think that Bitcoin and other cryptocurrencies will change the world of investing and management. You can easily price Bitcoin and you can trade it. But what is a Bitcoin? 

Do you already have some Bitcoins? If you have, and you want to trade them, then you should definitely visit this website bitcointrader2.com.

On this site, you’ll learn even more about Bitcoins and everything that you need to know about trading.  

But first, we are going to talk about other things, and we are going to explain what are assets, what is a commodity, what is a currency, and what are collectibles. 

Img Source: coindesk.com

What are the assets? 

Assets should generate cash flows for you. For example, if you own a business, that’s an asset. Assets can be priced. For example, every business can be priced. 

What is a commodity?

Img Source: engadget.com

A commodity can be used as a raw material. And a raw material should meet some fundamental needs, whether it’s energy or food. And a commodity delivered its value from its use as raw material, and the value of a commodity can be estimated by looking at the demand for energy or food, for example. Commodities can be priced. Coal, wheat, oil, they all can be priced. 

What is the currency?

Simply put, a currency is a medium of exchange that you can use to denominate cash flows and it can be a store of purchasing power. When it stands alone, currencies don’t have cash flow and they cannot be valued. But they can still be priced in comparison with other currencies. There are different currencies in the world, some of them are strong, and some of them are weak. Some of them are accepted more widely as a medium of exchange, and others are not. Over time currencies can rise and they can drop, and everything depends on the economic situation in the world. 

Img Source: community-exchange.org

What are collectibles?

By definition, collectibles are not a medium of exchange and they don’t have cash flows. But they surely can have aesthetic value, the best example are art pieces, paintings or sculptures. Collectibles can’t be valued because they don’t generate cash flows, but they can be priced. They can be priced based on how other people perceive their desirability and value. 

And what is a Bitcoin?

Img Source: briantan.xyz

Bitcoin is not an asset, because it can’t generate cash flows just by itself, standing alone. It is also not a commodity, for a simple reason, it’s not a raw material. You can’t use Bitcoin to produce something useful. 

The most logical conclusion is that Bitcoin is a currency. Which leads us to another question? Is it a good currency? It is on the right track to becoming one