Healthcare fraud is an increasingly popular crime. There are many technological solutions designed to prevent fraud and detect malicious attempts — one such solution is rooting in accounting controls.
Several factors contribute to fraud in the healthcare industry. Some examples include small errors with billing and others indicate a much larger issue such as coding for a higher paid procedure than what was actually done.
Moreover, some patients get confused by billing terminology and may overpay. Accounting controls are critical to reducing fraud in the healthcare industry, especially as it relates to billing.
The great thing about accountants and accounting technology being used to solve healthcare fraud is that they already have access to the information needed to prevent fraud. Accountant controls in concurrence with other software can help reduce the severity of healthcare fraud across the globe.