How Fraudsters Are Bilking the Government Out of Billions of Dollars | Odd Lots

After his victory, Donald Trump announced that Elon Musk and Vivek Ramaswamy would be leading up a new Department of Government Efficiency in order to crack down on wasteful, fraudulent spending inside the federal government. Setting aside the question of how effective this particular endeavor will be, the basic premise of cracking down on waste and going after fraudsters should generally be non-controversial. So what does fraud look like? How do companies bilk programs like Medicare and Medicaid for billions of dollars every year? And what can be done about it? On this episode, we speak with Jetson Leder-Luis, an assistant professor at the Questrom School of Business at Boston University and a faculty research fellow at the National Bureau of Economic Research. Jetson walks us through such things as ambulance fraud, identity theft, and other techniques that are used to milk the system. He also explains the tactics and strategies that the government can deploy to reduce billions in wasted spending.
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[@erencemgilakkaya1664]

Mind blowing, perfect episode, much appreciated!

[@switchenergyco]

Entertaining #doctor #bounty hunter

[@tedarcher9120]

Bilking?

[@ThatonedudeCR12956]

I have worked with the Federal Government, in hospital administration, and with insurance companies who handle Medicare Advantage Plans. The pre authorization process for non emergency transportation and Durable Medical Equipment is a nightmare for the majority of patients. The person being interviewed is either not being totally forthcoming about how many issues people have while doing this procedure or really should have clarified that he is speaking specifically about Original Medicare and not Medicare Advantage Plans. Transportation is such an ordeal and when you include DME, it's exponentially worse. There's issues and it's mostly with billing and automated insurance claim and authorization denials. Original Medicare is the EASY portion of Medical Insurance Administration. Once you include insurance companies and additional doctors with medical groups etc. it becomes a lot more complicated than what he is describing. There are so many people who think they are being defrauded or misled because they don't understand the difference between original Medicare and Medicare advantage plans.