Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : A US National Health Care System? -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (11063)	11/4/2009 11:37:43 PM
From: i-node	1 Recommendation Read Replies (1) \| Respond to of 42652

>> unsupported by any evidence. I have chosen not to debate this with you because it always ends the same way. I prove you wrong, and you bounce off to another topic and proclaim whatever links I happen to post as invalid or biased or whatever, and you never have any credible response to it; you're a total waste of time. As I explained to Lane last week, the problem is with claims adjudication, in which Medicare and Medicaid make no effort whatsoever toward stopping fraudulent claims from being paid, while private insurers take extraordinary measures. And private insurers get results: " ... Estimates say that claims fraud in private health insurance falls at around 1.5 percent or less. Of course, there is a cost for monitoring those claims, which represent roughly 3.3 percent of claims paid. But claims processing will not go away under government-run health insurance. That is the 2 percent to 3 percent figure now used for Medicare’s administrative cost. The private sector does spend more money than Medicare adjudicating claims. Indeed, the scrutiny is so close that health care providers frequently complain about the difficultly they have in getting legitimate claims approved and paid. But properly adjudicating claims is money well spent on the front end because it saves billions of dollars in fraudulent claims on the back end. The National Health Care Anti-Fraud Association says that every $2 million invested in fighting fraud produces returns of $17.3 million in recoveries and court-ordered judgments; plus there are the claims that were not paid. " For the record, conservative estimates put Medicare fraud at 60B out of 460B/year -- 13%. insideronline.org