Blue Cross Blue Shield Anti Fraud Efforts
Blue Cross Blue Shield health insurance companies’ anti fraud investigations caused savings and recoveries of about $350 million for 2008 according to the article “Blue Cross And Blue Shield Companies’ Anti-Fraud Efforts Recover $350 Million In 2008″ found on BCBS’s website.
According to data released from Blue Cross Blue Shield National Anti-Fraud Department, this is a 43% increase from 2007. The number of cases opened increased by about 34% and closed cases increased by 43% from 2007 to 2008.
Approximately 3% of all health care spending is lost to fraud each year according to The National Health Care Anti-Fraud Association. This totals to about $68 billion in losses. The total savings for all BCBS companies’ anti fraud units and Special Investigative Units was around $7 for every $1 spent on anti fraud efforts. BCBS is a leader in detecting and following up with fraud according to Scott P. Serota, BCBSA president and CEO.
