Healthcare fraud is on the rise all across the world. There are various risks associated with healthcare fraud, starting from your economical as well as your physical health. The key to avoiding getting duped by various healthcare malpractices is to understand the risks involved. If you suspect you are a victim of such fraud, then take the necessary legal action through the Healthcare Fraud Group LLC.
Let us have a look at the risks.
False diagnosis can result in bad treatment
When we are talking about healthcare fraud, it is vital to understand that it is quite similar to any other kind of fraud cases. It relies on misinformation and misrepresentation of the truth. Falsification of data regarding the diagnosis, treatment, and medical history of a patient can be damaging. When bogus insurance claims are submitted to the insurance company, it hurts the service leading to increased taxes and premium rates when you apply for coverage. Keep in mind that these inflated diagnoses also get recorded and a part of your medical history and affects further insurances.
Medical insurance benefit theft
If you are relying on a private health benefit, then fraud hits you all the same and in some cases even more. This is due to the fact that individual medical insurance benefits usually have a cap or a spending limit on them. False claims with full amount eat up into the principal sum of the medical insurance benefit, leading to a world of trouble in the future cases of an acute medical emergency.
About medical identity fraud
If your medical identity has been stolen, then you are in for a world of trouble. Identity theft leading to unauthorized purchases and billing will invariably lead to lowering of credit rating, creditability, and your savings. In the present day and age, medical identity theft has been increasing at an alarming rate.
Medical identity theft can also lead to various problems if the medical history of an individual gets altered. Fictitious records may lead to the wrong treatment of a condition and even cause a loss of job and earning due to some un-existing medical condition. Keep in mind that with medical identity theft, you run the risk of becoming uninsurable for the entirety of your lifetime.
The physical risk aspect
Last but not the least we have to factor in the physical risk of the patient that is associated with the falsification of medical records, data, and treatment bills. Fraud schemes can put you in significant risk of injury or even death due to wrong diagnosis, treatment, and unnecessary medical procedures that might do more harm than good. All of this stems from greed, but sadly that is a part of the existing medical system.
Medical fraud warrants stiff penalties
Keep in mind that any person or persons caught committing medical fraud will get tried under the Federal HIPAA or the Health Insurance Portability and Accountability Act. The penalties levied are serious that include jail term for a minimum of 10 years as well as financial penalties.
Keep in mind how much medical fraud can hurt you in the short term as well as in the long run.
