2016 Healthcare Industry Wisdom on Medical Identity Fraud Healthcare Industry Wisdom on Medical Identity Fraud is a collection of expertise by anti-fraud experts to help businesses within the healthcare industry better understand how to deal with medical identity fraud. It offers various food-for-thought on what a healthcare organization or business associate might consider when building or fine-tuning their anti-fraud programs. Topics discussed in the paper include a look at the Medical Loss Ratio mandate and how it may be affecting health plans’ ability to invest more heavily in fraud prevention, health IT issues, and patient authentication. Key points include: 1. […]

You check your credit and bank statements regularly, don’t give out your Social Security number to anyone, and are scrupulous about avoiding phishing emails and online scams. But have you checked your doctor’s bill lately? According to the Identity Theft Resource Center, more than 171 million Americans have had their personal records exposed to hackers between January and mid-October this year. And while run-of-the-mill ID theft is a huge hassle to deal with, most ID theft victims shelled out just $55 in 2015 to deal with the problem. On the other hand, medical ID theft victims spent nearly $13,500, including […]

Health care organizations need to proactively protect themselves and their employees because if there is a breach, their employees and patients could both be victims. Medical identity theft is on the rise and hackers are being more creative about obtaining personal medical information. Providing a comprehensive set of services around identity theft protection is a key focus for enterprises everywhere. Although you have solid security policies, your employees are still exposed due to the nature of the digital world we live in. A fraudster could use your employee’s health insurance information to receive services, which could then cause the employee’s […]

There are other dangers you should know about. Here’s how to protect yourself. If you’ve placed a security freeze on your credit reports at Equifax, Experian, TransUnion, and Innovis, that will help prevent fraudsters from opening new credit accounts in your name. But a freeze doesn’t protect you against every identity fraud threat arising from the data breach. With the information that hackers got, including access to Social Security numbers, birthdates, and an unspecified number of drivers license numbers, you need to take other steps to help lock down your finances. Social Security Benefits Crooks with your Social Security number, […]

Medicare cards are getting a makeover to fight identity theft. No more Social Security numbers plastered on the card. Next April, Medicare will begin mailing every beneficiary a new card with a unique new number to identify them. “Criminals are increasingly targeting people age 65 and older for medical identity theft,” said Medicare chief Seema Verma. “We are committed to preventing fraud.” The government is gearing up for a massive transition that will involve coordination with 58 million beneficiaries and their family members, plus hospitals, doctors, insurance companies, pharmacies and state governments. While the first mailings of new cards begin […]

Just because you freeze your file does not mean you are out of risk. Last week, Equifax announced a staggering data breach that has impacted 143 million Americans. This is considered the worst theft of consumer data in American history. Fraudsters now have access to 143 million Social Security numbers, dates of birth and address information. Putting a credit freeze on your credit bureau has become the most common advice to protect yourself. A credit freeze allows you to restrict access to your credit report, which in turn makes it more difficult for identity thieves to open new accounts in […]

Medical records are valued at 20 to 50 times more than financial identities on the black market. Medical identity theft is on the rise. Medical records are a hot target for hackers because, according to the FBI, medical identities are valued at 20 to 50 times more than financial identities on the black market. Data breaches appear to be the leading cause of this growth, and the number of data breaches continues to grow. The number of healthcare organizations falling victim to data breaches reached an all-time high of nearly 400 reported breaches in 2016, according to the Identity Theft […]

Health care organizations have increasingly become the target of hackers. The data breach of Anthem, the second-largest U.S. health insurer, was among the major headlines of 2015. The breach, which exposed private data of as many as 78.8 million customers, was the result of a cyberattacks attributed earlier this year to someone acting on behalf of a foreign government. While health care industry breaches of this magnitude may be infrequent, health care organizations have increasingly become the target of hackers. One of the reasons is the value of medical identity records on the dark web. Because they have a much […]

By hacking an insurance company or hospital, criminals can access all of your sensitive information in one fell swoop. This year is already on track to topple 2016’s record-breaking 1,093 data breaches. In the first six months of 2017, 791 data breaches have already been reported, according to a report from the Identity Theft Resource Center and CyberScout. This is a 29% increase compared to this time last year. Data breaches have become so common that credit card numbers are virtually worthless on the black market because there’s so many available. That’s disturbing in itself, but what’s even more scary […]

Medical identity theft is on the rise and hackers are being more creative about obtaining personal medical information. In fact, a recent study by researchers at Michigan State University found nearly 1,800 incidences of large data breaches in patient information over a seven-year period from October 2009 to December 2016. In the U.S., medical identities are 20 to 50 times more valuable to criminals than financial identities. According to BankRate.com, the average cost for victims of medical identity theft is $22,000 to resolve the crime. And, the impact can go well beyond financial. For example, a fraudster could use your […]

Having your Social Security number removed from your Medicare card helps fight medical identity theft. Changes are coming to your Medicare card. By April 2019, your card will be replaced with one that no longer shows your Social Security number. Instead, your card will have a new Medicare Beneficiary Identifier (MBI) that will be used for billing and for checking your eligibility and claim status. And it will all happen automatically – you won’t have to pay anyone or give anyone information, no matter what someone might tell you. Having your Social Security number removed from your Medicare card helps […]