Jump to content

Medicare loses 60 BILLION DOLLARS a year in FRAUD.....That over 10% of their entire total costs to FRAUD alone.


Recommended Posts

 

The accusations are Medicare fraud, conflict of interest and insider trading. Bill Frist’s connection to his family’s Hospital Corporation of America (HCA) has landed him in hot water and earned him a subpoena from the U.S. attorney for the Southern District of New York and an investigation by the Securities and Exchange Commission.

HCA Inc., an international chain of hospitals founded in 1968 by Frist’s father, Thomas Frist Sr., and brother, Thomas Frist Jr., is one of the top-10 health care services companies, ranked by sales, according to Yahoo Finance. If you spot something you think we should add, let us know at uncovered@truthdig.com.

BACKGROUND

MEDICARE FRAUD

| As reported by Doug Ireland of LA Weekly, Hospital Corporation of America was the subject of a decade-long federal investigation into suspected criminal fraud involving double bookkeeping and the overbilling of Medicare, Medicaid and Tricare. In 1997, at the pinnacle of a government crackdown on the healthcare industry’s defrauding of Medicare, HCA, then Columbia/HCA, was charged with conspiring to overbill Medicare and Medicaid, the federal healthcare programs for the elderly and the poor, by more than $1.7 million. HCA has since paid a total of $1.7 billion in fines, the largest fraud settlement in U.S. history. Following the settlement, HCA was allowed to continue its Medicare contracts.

 

 

CONFLICT OF INTEREST | Frist’s financial disclosure statement this year placed the value of his blind trusts at between $7 million and $25 million, according to The Washington Post. Frist placed his investments in a blind trust when he joined the Senate to avoid the appearance of conflict of interest. However, contrary to Frist’s initial statements, the blind trust provided him with regular updates on the status of his assets, according to the Associated Press. 

INSIDER TRADING INVESTIGATIONS | On Sept. 21, 2005, Jonathan Katz of the Associated Press reported that Frist had instructed a trustee managing his assets to sell all of his HCA stock as well as that of his wife and children. All of their shares of HCA stock were sold by July 8, two weeks before HCA issued a disappointing earnings report leading to a 15 % drop in share price. Katz also reported that Frist claimed that the order was given to avoid the appearance of conflict of interest over his participation in healthcare legislation, and that he possessed no nonpublic information when the stock was sold (contrary to correspondence between the trustee and Frist family now on file with the Senate). The U.S. attorney for the Southern District of New York has issued subpoenas to investigate the sale, and the U.S. Securities and Exchange Commission has also issued a subpoena. 

 

 

FRIST’S FOCUS ON HEALTHCARE | Before Frist was a household name, and before the HCA Medicare fraud scandal broke, he was active for the Bush-Quayle administration and in Tennessee politics. Frist chaired the Tennessee Medicaid Task Force from 1992-1993, the Republican National Committee’s Health Care Coalition’s National Steering Committee and George H.W. Bush-Dan Quayle ’92, and was deputy director of the Tennessee Bush-Quayle ’92 campaign.

Frist has held the following special assignments according to his “Spotlight on Healthcare” page:

  • Vice Chairman, Alliance for Health Reform (1997-present)
  • Co-Chairman, CSIS Task Force on Strengthening US Leadership on HIV/AIDS (2001-present)
  • Member, The Congressional Heart and Stroke Coalition
  • Member, National Bipartisan Committee on the Future of Medicare (1998-1999)
  • Chairman, Senate Republican Medicare Working Group (August 1995-October 1996)
  • Chairman, Senate Subcommittee on Disability Policy (1996)
BIOGRAPHICAL INFO

BiographyCurriculum Vitae of the Honorable William H. Frist

 

 

FILES

Frist’s Votes Found to Favor HCA InterestsDec. 4, 2005

| The Associated Press reported: “An analysis of Senate Majority Leader Bill Frist’s voting record shows a pattern of supporting bills that benefit HCA Inc., the Nashville-based hospital company that’s been the foundation of the Frist family’s wealth.” more

Investigations Involving Congress Members
Nov. 28, 2005 | The Associated Press reports: “Senate Majority Leader Bill Frist, R-Tenn.: The Securities and Exchange Commission and the Justice Department are investigating Frist’s sale of millions of dollars worth of stock in HCA, the Nashville-based hospital chain founded by his father and brother.” more

Documents Contradict Comments on Holdings
Oct. 24, 2005 | Jeffrey H. Birnbaum of the Washington Post reports: “Senate Majority Leader Bill Frist (R-Tenn.) was given considerable information about his stake in his family’s hospital company, according to records that are at odds with his past statements that he did not know what was in his stock holdings.” more

Frist Sold Stock Before Price Dropped
Sept. 21, 2005 | Jonathan M. Katz reported for the Associated Press: “Senate Majority Leader Bill Frist, a potential presidential candidate in 2008, sold all his stock in his family’s hospital corporation about two weeks before it issued a disappointing earnings report and the price fell nearly 15 percent.” more

Upon Frist’s Senate majority leader nomination:
Bad Doctor
Jan. 10, 2003 | Doug Ireland of the LA Weekly reported: “While TV gushed last week over the Republicans new Senate majority leader, Bill Frist, intervening in a traffic accident, portraying the former heart surgeon as a ‘Good Samaritan,’ in truth the GOP has simply replaced a racist with a corporate crook.” more

Regarding HCA and Medicare fraud:
NewsHour with Jim Lehrer “Doctoring the Books”
July 31, 1997 | “Three Columbia/HCA executives were charged with defrauding Medicare programs for more than a decade, underscoring the government’s growing investigation into healthcare fraud. After a backgrounder, Margaret Warner will lead a discussion on Columbia/HCA’s defrauding of medicare.” 

RELATED SITES

Frist’s Senate PageCitizens for Responsibility and Ethics in WashingtonOct. 25, 2005

| Citizens for Responsibility and Ethics in Washington (CREW) has filed the second of two complaints with the Senate Select Committee on Ethics against Sen. William Frist (R-Tenn.). The second complaint alleges that Sen. Frist was well aware that he held HCA stock at a time when he denied any knowledge of such holdings. The complaint points to recent press reports and letters from trustees to Frist as evidence that the senator was aware of his holdings. 

Press Release
1st Complaint
2nd Complaint

 

 

MULTIMEDIA

Listen:
SEC Inquiry into Frist Stock Sale Deepens
Oct. 13, 2005 | David Welna for NPR’s “All Things Considered”

Watch:
NewsHour with Jim Lehrer “Doctoring the Books”
July 31, 1997 | “Three Columbia/HCA executives were charged with defrauding medicare programs for more than a decade, underscoring the government’s growing investigation into healthcare fraud. After a backgrounder, Margaret Warner will lead a discussion on Columbia/HCA’s defrauding of Medicare.”

 

 

 
 

 

Link to comment
Share on other sites

Just now, dontlooknow said:

You want to see more deep throat?

You lied or you're just plain stupid. I don't need to see more to prove that. 

 

2. Medicare is using private insurance more and more to REDUCE COSTS, dummy. 

Link to comment
Share on other sites

3 minutes ago, merrill said:
 

The accusations are Medicare fraud, conflict of interest and insider trading. Bill Frist’s connection to his family’s Hospital Corporation of America (HCA) has landed him in hot water and earned him a subpoena from the U.S. attorney for the Southern District of New York and an investigation by the Securities and Exchange Commission.

HCA Inc., an international chain of hospitals founded in 1968 by Frist’s father, Thomas Frist Sr., and brother, Thomas Frist Jr., is one of the top-10 health care services companies, ranked by sales, according to Yahoo Finance. If you spot something you think we should add, let us know at uncovered@truthdig.com.

BACKGROUND

MEDICARE FRAUD

| As reported by Doug Ireland of LA Weekly, Hospital Corporation of America was the subject of a decade-long federal investigation into suspected criminal fraud involving double bookkeeping and the overbilling of Medicare, Medicaid and Tricare. In 1997, at the pinnacle of a government crackdown on the healthcare industry’s defrauding of Medicare, HCA, then Columbia/HCA, was charged with conspiring to overbill Medicare and Medicaid, the federal healthcare programs for the elderly and the poor, by more than $1.7 million. HCA has since paid a total of $1.7 billion in fines, the largest fraud settlement in U.S. history. Following the settlement, HCA was allowed to continue its Medicare contracts.

 

 

CONFLICT OF INTEREST | Frist’s financial disclosure statement this year placed the value of his blind trusts at between $7 million and $25 million, according to The Washington Post. Frist placed his investments in a blind trust when he joined the Senate to avoid the appearance of conflict of interest. However, contrary to Frist’s initial statements, the blind trust provided him with regular updates on the status of his assets, according to the Associated Press. 

INSIDER TRADING INVESTIGATIONS | On Sept. 21, 2005, Jonathan Katz of the Associated Press reported that Frist had instructed a trustee managing his assets to sell all of his HCA stock as well as that of his wife and children. All of their shares of HCA stock were sold by July 8, two weeks before HCA issued a disappointing earnings report leading to a 15 % drop in share price. Katz also reported that Frist claimed that the order was given to avoid the appearance of conflict of interest over his participation in healthcare legislation, and that he possessed no nonpublic information when the stock was sold (contrary to correspondence between the trustee and Frist family now on file with the Senate). The U.S. attorney for the Southern District of New York has issued subpoenas to investigate the sale, and the U.S. Securities and Exchange Commission has also issued a subpoena. 

 

 

FRIST’S FOCUS ON HEALTHCARE | Before Frist was a household name, and before the HCA Medicare fraud scandal broke, he was active for the Bush-Quayle administration and in Tennessee politics. Frist chaired the Tennessee Medicaid Task Force from 1992-1993, the Republican National Committee’s Health Care Coalition’s National Steering Committee and George H.W. Bush-Dan Quayle ’92, and was deputy director of the Tennessee Bush-Quayle ’92 campaign.

Frist has held the following special assignments according to his “Spotlight on Healthcare” page:

  • Vice Chairman, Alliance for Health Reform (1997-present)
  • Co-Chairman, CSIS Task Force on Strengthening US Leadership on HIV/AIDS (2001-present)
  • Member, The Congressional Heart and Stroke Coalition
  • Member, National Bipartisan Committee on the Future of Medicare (1998-1999)
  • Chairman, Senate Republican Medicare Working Group (August 1995-October 1996)
  • Chairman, Senate Subcommittee on Disability Policy (1996)
BIOGRAPHICAL INFO

BiographyCurriculum Vitae of the Honorable William H. Frist

 

 

FILES

Frist’s Votes Found to Favor HCA InterestsDec. 4, 2005

| The Associated Press reported: “An analysis of Senate Majority Leader Bill Frist’s voting record shows a pattern of supporting bills that benefit HCA Inc., the Nashville-based hospital company that’s been the foundation of the Frist family’s wealth.” more

Investigations Involving Congress Members
Nov. 28, 2005 | The Associated Press reports: “Senate Majority Leader Bill Frist, R-Tenn.: The Securities and Exchange Commission and the Justice Department are investigating Frist’s sale of millions of dollars worth of stock in HCA, the Nashville-based hospital chain founded by his father and brother.” more

Documents Contradict Comments on Holdings
Oct. 24, 2005 | Jeffrey H. Birnbaum of the Washington Post reports: “Senate Majority Leader Bill Frist (R-Tenn.) was given considerable information about his stake in his family’s hospital company, according to records that are at odds with his past statements that he did not know what was in his stock holdings.” more

Frist Sold Stock Before Price Dropped
Sept. 21, 2005 | Jonathan M. Katz reported for the Associated Press: “Senate Majority Leader Bill Frist, a potential presidential candidate in 2008, sold all his stock in his family’s hospital corporation about two weeks before it issued a disappointing earnings report and the price fell nearly 15 percent.” more

Upon Frist’s Senate majority leader nomination:
Bad Doctor
Jan. 10, 2003 | Doug Ireland of the LA Weekly reported: “While TV gushed last week over the Republicans new Senate majority leader, Bill Frist, intervening in a traffic accident, portraying the former heart surgeon as a ‘Good Samaritan,’ in truth the GOP has simply replaced a racist with a corporate crook.” more

Regarding HCA and Medicare fraud:
NewsHour with Jim Lehrer “Doctoring the Books”
July 31, 1997 | “Three Columbia/HCA executives were charged with defrauding Medicare programs for more than a decade, underscoring the government’s growing investigation into healthcare fraud. After a backgrounder, Margaret Warner will lead a discussion on Columbia/HCA’s defrauding of medicare.” 

RELATED SITES

Frist’s Senate PageCitizens for Responsibility and Ethics in WashingtonOct. 25, 2005

| Citizens for Responsibility and Ethics in Washington (CREW) has filed the second of two complaints with the Senate Select Committee on Ethics against Sen. William Frist (R-Tenn.). The second complaint alleges that Sen. Frist was well aware that he held HCA stock at a time when he denied any knowledge of such holdings. The complaint points to recent press reports and letters from trustees to Frist as evidence that the senator was aware of his holdings. 

Press Release
1st Complaint
2nd Complaint

 

 

MULTIMEDIA

Listen:
SEC Inquiry into Frist Stock Sale Deepens
Oct. 13, 2005 | David Welna for NPR’s “All Things Considered”

Watch:
NewsHour with Jim Lehrer “Doctoring the Books”
July 31, 1997 | “Three Columbia/HCA executives were charged with defrauding medicare programs for more than a decade, underscoring the government’s growing investigation into healthcare fraud. After a backgrounder, Margaret Warner will lead a discussion on Columbia/HCA’s defrauding of Medicare.”

 

 

 
 

 

 

Health insurers have forced consumers to pay billions of dollars in medical bills that the insurers themselves should have paid, according to a report released yesterday by the staff of the Senate Commerce Committee.

 

Insurers make paperwork confusing because “they realize that people will just simply give up and not pursue it” if they think they have been shortchanged, Potter said.

 

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401636.html

 

Link to comment
Share on other sites

Moreover, tax dollars also pay for critical elements of the health care system apart from direct care—Medicare funds much of the expensive equipment hospitals use, for instance, along with all medical residencies.

 

Recognizing these hidden costs that U.S. households pay for health care today makes it far easier to see how a universal single-payer system—with all of its obvious advantages—can cost most Americans less than the one we have today.

 

Medicare must exist in the fragmented world that is American health care—but no matter how creative the opponents of single-payer get, there is no way they can show convincingly how the administrative costs of a single-payer system could come close to the current level.

 

More on this matter:

http://www.dollarsandsense.org/archives/2008/0508harrison.html

Link to comment
Share on other sites

5 minutes ago, dontlooknow said:

Hey dummy the private insurance company's don't care about fraud and loses 10% so you have to pay higher premiums. 

FALSE. 

 

You presented something from 2011 who's claims it's from 3-10% 

 

I presented something from 2015 that Medicare fraud is OVER 10%

 

Medicare NOW uses private HMO's to try and control costs and fraud. 

 

Try and be not so stupid. 

Link to comment
Share on other sites

4 minutes ago, merrill said:

Moreover, tax dollars also pay for critical elements of the health care system apart from direct care—Medicare funds much of the expensive equipment hospitals use, for instance, along with all medical residencies.

 

Recognizing these hidden costs that U.S. households pay for health care today makes it far easier to see how a universal single-payer system—with all of its obvious advantages—can cost most Americans less than the one we have today.

 

Medicare must exist in the fragmented world that is American health care—but no matter how creative the opponents of single-payer get, there is no way they can show convincingly how the administrative costs of a single-payer system could come close to the current level.

 

More on this matter:

http://www.dollarsandsense.org/archives/2008/0508harrison.html

This is an absolute lie that's been debunked over and over and over. 

 

The fact Medicare has been using HMO's to cut costs dispels your talking point, IDIOT. 

Link to comment
Share on other sites

Just now, dontlooknow said:

So private insurance has fraud at the same rate. 

No. They don't have fraud at the same rate, DUMBASS. 😂

 

You're mathematically challenged.  

Link to comment
Share on other sites

Just now, dontlooknow said:

Hey idiot frauds are going to defraud any system. Hello mcfly. 

Except private insurers have done much more to combat fraud which is why Medicare is turning MORE and MORE of their administration over to the private sector, IDIOT. 

Link to comment
Share on other sites

1 minute ago, RollingRock said:

Commercial insurance has plenty of fraud.  

Commercial insurance has done much over the last decade to eliminate fraud which is why Medicare is turning more and more of their administration over to HMO's. 😂

 

While you MORONS ate trying to give it back to the government WHILE claiming it'll save money.....

Link to comment
Share on other sites

Just now, dontlooknow said:

10% same as medicare. 

No, DUMBASS. Your article is 10 years old and doesn't account for all the fraud protection they've put in place since AND it was 3-10% YOU MORON.

 

Medicare is OVER 10% NOW.

 

Medicare is turning their administration over to private insurance to SAVE MONEY. 😂

Link to comment
Share on other sites

2 minutes ago, dontlooknow said:

And they have the same rate of fraud as the government. You lose. 

 

Just now, DeepBreath said:

No, DUMBASS. Your article is 10 years old and doesn't account for all the fraud protection they've put in place since AND it was 3-10% YOU MORON.

 

Medicare is OVER 10% NOW.

 

Medicare is turning their administration over to private insurance to SAVE MONEY. 😂

NO, YOU LOSE. 😂

Link to comment
Share on other sites

Just now, dontlooknow said:

Lol you already lost you're just too stupid to realize it. 

😂Yes because 3-10% a decade ago is more. than OVER 10% a few years ago. 

 

3-10% is MORE than OVER 10%.....😂

Link to comment
Share on other sites

1 hour ago, DeepBreath said:

 

Medicare for all is where we are going, and all private HMO's will be put out of business, and outlawed.

Link to comment
Share on other sites

1 minute ago, skews13 said:

 

Medicare for all is where we are going, and all private HMO's will be put out of business, and outlawed.

That isn't going to happen and if your claim it'll save money is true, then why is Medicare using private insurance to cut costs? 😂

 

^^^^Supports making private enterprise illegal. How communist of you. 😂

Link to comment
Share on other sites

1 minute ago, dontlooknow said:

But what you fail to tell everybody is it's usually the doctors defrauding medicare. Oh snap. Youre stupid. 

But....single payer will be using the SAME doctors, hospitals and providers...😂

 

Link to comment
Share on other sites

Just now, dontlooknow said:

Deep throat is dumb dumb dumb .

 

 

Common examples of Medicare fraud include billing for services that were not provided, billing of unnecessary services, misrepresenting dates of service, or providers of service, and paying kickbacks for patient referrals.Jan 17, 2017

And single payer will give providers access to 320+ million people to do the same thing to so how is it going to save money again when the government is now using private insurance to cut costs? 

Link to comment
Share on other sites

Just now, dontlooknow said:

Oh snap this is what deep throat doesn't want to tell you folks. 

 

Just now, DeepBreath said:

And single payer will give providers access to 320+ million people to do the same thing to so how is it going to save money again when the government is now using private insurance to cut costs? 

Oh snap. DUMBASS is PROVING single payer won't reduce costs. 😂 He's beating up his own argument. 

Link to comment
Share on other sites

2 minutes ago, dontlooknow said:

Boy oh boy. Examples of medicare fraud deals with billing and over charging for service from where again deep throat. Lol

 

Common examples of Medicare fraud include billing for services that were not provided, billing of unnecessary services, misrepresenting dates of service, or providers of service, and paying kickbacks for patient referrals.Jan 17, 2017

^^^^Wants to give the government the opportunity to be fraud for EVERYONE in the country and claims it'll SAVE money. 😂😂

 

Meanwhile in reality land, the government is using private insurance to cut costs. 

Link to comment
Share on other sites

Just now, dontlooknow said:

It all comes back to private doctors over billing and charging for services not rendered. Got you you dumb bitch. 

Yes? Which will be much easier when EVERYONE is under government administration. 😂

Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...