Medical identity theft is on the rise
By Admin | March 08, 2017
The statistics are sobering: One in three health records may have been compromised in 2016. But why?
Black market value, for starters, Protected Health Information (PHI) can be used to obtain drugs, commit insurance fraud, or obtain medical care through Medicaid and Medicare. Where a social security number can earn a dollar on the black market, PMI can earn over $60,000.
These security breaches cost the healthcare industry over $30 billion annually, not to mention impacted patients must often part with around $13,500 to resolve issues.
However, money isn’t the only concern. Tampering with someone’s medical identity can lead to delays in treatment, misdiagnoses, and inappropriate care. But these security threats have revealed a flaw in patient identification: some patients share names and birthdays, so the medical industry must begin implementing better ways to identify individuals.