Billion Dollar Medicaid Fraud exposed at Fraud and Forensic Accounting Conference in Baton Rouge
Published 8:30 am Sunday, July 10, 2022
To find fraud, follow the money,” says Dr. Jacob Kuriyan, President of Physmark, Inc. and Care Maps, Inc.
In his presentation at the 2022 Fraud and Forensic Accounting Conference E.J. Ourso College of Business, Louisiana State University, Baton Rouge, the scientist will disclose the results of investigating a myriad of health care data.
“We found fraud at the top of the food chain – in the multibillion-dollar transactions between the government and health insurance companies,” says Kuriyan.
After decades of coding software for healthcare organizations, Kuriyan has developed highly complex forensic accounting tools which are able to reveal the real costs of medical services.
“Insurance companies systematically overcharge the government for their Medicare health insurance program,” Kuriyan states and delivers proof: After we analyzed the data, according to the state’s Legislative Finance Committee, New Mexico recovered $660 million in “intentional overpayments” in the period from 2014- 2017.
Accurate auditing is vital. Due to increased health care costs, millions of people in the US will only have access to very limited health care – or will have none at all. Therefore, Kuriyan offers a way out:
“If we get an opportunity to review the data with our CareMaps program, the US government will probably be able to recover more than 100 billion dollar from the insurance companies.