Did you know that Medicare fraud is estimated to cost a staggering $100 billion in 2023 alone? This figure, which could be even higher, underscores the urgent need for immediate action. Representative Aaron Bean (R-FL) has introduced a bill to combat this rampant fraud, emphasizing that Congress has a duty “to ensure that taxpayer dollars are used to keep our most vulnerable populations healthy, not to line the pockets of fraudsters.”
Rep. Bean’s ‘Prompt Reporting and Oversight for Medicare Providing Transparency’ (PROMPT) Act represents a significant step forward in the fight against Medicare fraud. By mandating that the Secretary of Health and Human Services (HHS) must explain every new furnishing of an item or service within 30 days, the Act holds the potential to significantly reduce fraudulent Medicare spending, offering hope for a more transparent and accountable system.
Healthcare Finance News reported in March that Medicare alone was responsible for nearly half of the $236 billion in improper payments across 14 agencies and 71 programs in 2023, likely because Medicare pays out to individuals compared to other agencies and programs.