Most claims of worldwide trends that are based on dollars are guesses and may be crude guesses at that. Two healthcare monitors say that global medical fraud now totals $260 billion.
A study by the European Healthcare Fraud and Corruption Network (EHFCN) and the Center for Counter Fraud Services (CCFS) at Britain’s Portsmouth University found that 5.59 percent of annual global health spending is lost to mistakes or corruption, according to Reuters.
The government and private watchdogs in the US have said for years that fraud was a key part to rising medical costs. And, for years, the government has been able to do nothing about it. It is not unlike the fraud in the financial system or the huge black markets in goods and services that exist in every economy.
The fight against fraud is almost always a battle that leads to a draw at best, which makes fraud in any large industry part of the cost of doing business.
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