Navigation Links
New Healthcare Overpayment Recoupment Embezzlement Recovery Service Announced In Wake Of Launch of New Federal Task Force To Combat Healthcare Fraud Crisis
Date:11/19/2009

Will Obama's New Financial Fraud Task Force Catch The New "Trillion-Dollar Madoff" In The Widespread $1 Trillion Healthcare Overpayment Recoupment Embezzlement Crime? ERISAclaim.com Believes That Private Sectors Shall Be The Equal Partners To The Federal Government In Fighting And Preventing Another Financial Meltdown, And Must Take Proactive And Primary Roles In Conjunction With The Government Fraud Task Force To Save Our Economy And Healthcare System.

Hanover Park, IL (PRWEB) November 19, 2009 -- ERISAclaim.com announced today the new healthcare overpayment recoupment embezzlement recovery services in the wake of the new federal task force to combat healthcare fraud crisis. On Tuesday, November 17, 2009, the United States Attorney General Eric Holder announced at the Department Of Justice (DOJ) Financial Fraud Enforcement Task Force Press Conference that an Interagency Financial Fraud Enforcement Task Force was launched under President Obama's executive order to combat financial crime.

In order to make new Obama Financial Task force mission possible, Dr. Jin Zhou with ERISAclaim.com, with unique knowledge of industry known facts, has launched the nation's first unique embezzlement recovery service to help midsized and large sized ERISA plans to recover millions of dollars on a complete contingency basis, to recoup as much as possible from the recoverable but overpaid healthcare dollars to the original payers and owners who initially paid out overpaid claims by TPAs and ASOs and are now entitled to the ownership for and the possession to an estimated billions of dollars in the $6 trillion dollar healthcare denial management market.

The Attorney General Eric Holder said in prepared remarks that, "This task force's mission is not just to hold accountable those who helped bring about the last financial meltdown, but to prevent another meltdown from happening."

"Will Obama's new financial fraud task force catch the new 'trillion-dollar Madoff' in the widespread $1 trillion healthcare overpayment recoupment embezzlement crime?" commented by Dr. Jin Zhou, the President of ERISAclaim.com.

"We face unprecedented challenges in responding to the financial crisis that has gripped our economy for the past year", said United States Attorney General Eric Holder at the press conference.

This new task force is apparently a part of Obama's campaign promises for vigorous enforcement to resuscitate U.S. economy, and in the wake of economic recession and federal securities regulator's failure in one of the biggest $65 billion financial fraud in U.S. history committed by Bernard Madoff in a decades-long scheme, as observed by Dr. Jin Zhou of ERISAclaim.com.

"The stakes are very high for the administration, particularly with current congressional debates on the real costs to finance the new health care reform and the lack of measurement to contain health-care costs, waste and fraud", said Dr. Jin Zhou.

"It's not enough to prosecute fraud only after it's become widespread," Treasury Secretary Timothy F. Geithner said at the DOJ press conference. "We can't wait for problems to peak before we respond. We're seeking comprehensive financial reform to create a more stable, safer financial system and stepping up our enforcement strategy."

In responding to this new Obama preventative enforcement task force mission, Dr. Jin Zhou from ERISAclaim.com, an industry expert in healthcare claims and employee benefit administration, made the following statements in launching the new overpayment recoupment embezzlement recovery services:

Obama Administration has the right "Art of War" strategy in fighting against the financial fraud war, a superb strategy to win the war before the war breaks out, but the talking is cheap, and seeing is believing.

Overpayment recoupment embezzlement is a widespread financial fraud that has gripped our healthcare system in about $1 trillion healthcare overpayment recoupment embezzlement crime.

ERISAclaim.com believes that private sectors shall be the equal partners to the Federal Government in fighting and preventing another financial meltdown, and must take proactive and primary roles in conjunction with the government fraud task force to save our economy and healthcare system.

Overpayment recoupment embezzlement fraud or crime is typically committed sophisticatedly by health plan's third-party administrators (TPA) or "TPA Madoff" in the scams by initial negligent overpayment to healthcare providers from the plan assets, especially from self-insured employer-sponsored plans, and subsequent unauthorized overpayment recoupment on behalf of self-funded plans under "anti-fraud initiatives" and ultimately fraudulent embezzlement of plan assets by failing to refund or return the recouped money to the original self-funded health plans. The current overpayment recoupment embezzlement fraud is very sophisticated and complicated, as it was usually committed under anti-fraud campaign and with participation of federal and state law enforcement to the extent of the alleged healthcare provider fraud investigation and prosecution. Based on the industry reports and published numbers, it is estimated that overpayment recoupment market could well be over $1 trillion as most recoupment actions have gone back two to six years with $2.5 trillion health expenditure annually and $6 trillion in denied claims annually. This "trillion-dollar Madoff" will overshadow the "billion-dollar Madoff".

Unless with in-depth industry knowledge and intimate know-how, it is extremely difficult for the ordinary plan sponsors to decipher this kind of trillion-dollar recoupment embezzlement scam, that is why Bernard Madoff's billion-dollar scam was harder to be discovered for decades than those million-dollar or thousand-dollar financial or health care fraud.
   
"A successful enforcement and recovery from $1 trillion overpayment recoupment embezzlement market may very well finance the most, if not entire, healthcare reform, as the House Bill passed last week will provide coverage to 96% of Americans under $900 billion threshold outlined by President Obama", said Dr. Jin Zhou, the president of ERISAclaim.com.

"Whether or not Obama's new task force will catch real "trillion-dollar Madoff" soon enough or only afterwards remains to be seen", as cautioned by Dr. Jin Zhou.

For more information or to arrange an interview, please visit http://erisaclaim.com/Embezzlement_Recovery.htm, or contact Dr. Jin Zhou, president of ERISAclaim.com, at 630-808-7237.

###

Read the full story at http://www.prweb.com/releases/2009/11/prweb3223984.htm.


'/>"/>
Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved

Related medicine news :

1. AtriCure to Present at Thomas Weisel Partners 2007 Healthcare Conference
2. BD to Present at the Bear Stearns 20th Annual Healthcare Conference
3. ATS Medical to Present at the 2007 Thomas Weisel Partners Healthcare Conference
4. Dr. Paul Bandt Celebrates 35th Anniversary With Desert Radiologists and a History of Healthcare in Las Vegas
5. Omnicell to Present at Thomas Weisel Healthcare Conference 2007
6. MDS to Present at Thomas Weisel Partners Healthcare Conference
7. Hospira to Present at the Bear Stearns 20th Annual Healthcare Conference on September 11
8. AMICAS to Present at Thomas Weisel Partners Healthcare Conference 2007
9. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
10. Kingfisher Healthcare (KFH) Achieves World Class Quality Platform
11. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2017)... ... June 24, 2017 , ... The weather is heating up and the ... business owners should be aware that the summer months provide more than warmer temperatures ... and keys can be negatively affected from direct exposure to the sun. When it ...
(Date:6/23/2017)... ... June 23, 2017 , ... The Rhode Island ... Care Management Alerts and Dashboards, an innovative new service enabling healthcare providers to ... Care Management Alerts and Dashboards provide near real-time data about patients admitted to ...
(Date:6/23/2017)... ... June 23, 2017 , ... By scoring 100% for ... consecutive four-star rating from premier online charity evaluator, Charity Navigator, validating ANRF's work as ... of all charities reviewed by Charity Navigator and earns ANRF a spot on their ...
(Date:6/23/2017)... ... ... Studies show evidence that carotenoids and antioxidants derived either from the diet ... , But how often do ophthalmologists and optometrists in Sweden recommend the use of ... with early symptoms of AMD? A study published recently in Dove Medical ...
(Date:6/23/2017)... ... June 23, 2017 , ... ... in Newburgh, New York, has recently begun offering three new minimally invasive procedures ... best cutting-edge procedures and reducing downtime, Dr. Rubinstein is excited to bring microneedling, ...
Breaking Medicine News(10 mins):
(Date:5/30/2017)... Israel , May 30, 2017 DarioHealth Corp. (NASDAQ: ... big data solutions, today announced that it will be presenting at ... at 8:00 AM PT. Erez Raphael , CEO, of DarioHealth ... The conference will be held on June 6th & 7th, 2017 ... companies in the small / micro-cap space. ...
(Date:5/30/2017)... Therapix Biosciences Ltd. (Nasdaq: TRPX), a ... development of cannabinoid-based drugs, today announced that the ... three upcoming scientific and investor conferences in June: ... ... Wednesday, June 7 ...
(Date:5/26/2017)... , May 26, 2017  Endo International plc (NASDAQ: ... President and CEO, will represent the Company in a fireside ... Conference on Tuesday, June 13, 2017 at 10:40 a.m. PT ... Terranea Resort in Rancho Palos Verdes, CA. ... the event will be available on the Company,s website at ...
Breaking Medicine Technology: