Commentary: Treasury prints money, HHS burns it
Posted (Last updated )
Like invasive vines, so-called improper payments seem totally resistant to agency efforts to cut them down. You won’t find it on the home page, where most agencies put only happy news, but Health and Human Services has warned improper payments through Medicaid are rising fast.
They’ll hit an estimated 11.5 percent this year, or $30 billion. The rate last year was 9.8 percent. The dollars were about $15 billion in 2013. Medicare is even worse at 12 percent in its fee-for-service programs.
This despite an Obama administration concerted effort starting in 2009 to tamp down on improper payments. It’s failed. The Government Accountability Office’s Beryl Davis, who overseas all investigations involving finance, says governmentwide improper payments hit $137 billion in 2015. That’s up more than 10 percent from 2014.
So with nearly a quarter of fraudulent federal payments sloshing out through the Medicaid program, what in holy heck is going on?...
G2X TAKE: This article/commentary highlights the absurd and growing numbers associated with fraud and improper payments across, HHS, CMS, and the Federal sector. While this will come as no surprise to anyone who has been in this sector for more than a minute, it does speak to the increasingly significant opportunity that exists out there for both product and services firms who can make even just a small dent.
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