About Medical Identity Theft and Healthcare Data Breaches
Tags: Data Breach, Healthcare, Fraud Management
The frequency of medical identity theft is on the rise. Explore what that means to your company's and your client's risks of a medical data breach and potential loss of customer and brand loyalty.
The frequency of medical identity theft is on the rise and medical fraud is estimated to generate financial losses totaling $60 Billion each year. Social security numbers and medical insurance account numbers can easily be stolen as electronic records and paper files move through the healthcare infrastructure. As a result, identity thieves can nefariously use this information to obtain medical treatments, make insurance claims and jeopardize medical benefits of unsuspecting individuals. This whitepaper describes the reasons behind the rise in the frequency of medical identify theft, including changes in HIPAA and HITECH laws as well as other outlying factors.