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ID Experts Introduces Medical Identity Theft Service To Detect And Lower Health Care Fraud

ID Experts Corporation logo Just before the holidays, ID Experts Corporation introduced Medical Identity Alert System (MIDAS), a new service to help health care plan providers, employers, and consumers prevent and reduce medical identity theft and fraud. The F.B.I. estimated health care fraud at $80 billion each year. The 2013 Survey on Medical Identity Theft by Ponemon found:

"... most cases of identity theft result not from a data breach but from the sharing of personal identification credentials with family and friends. Or, family members take the victim’s credentials without permission."

About 1.84 million people in the USA are currently affected by medical identity theft and fraud. This can lead to misdiagnoses, mistreatments, delayed treatments, and wrong prescription medications. Only 54 percent of patients review the Explanation of Benefits (EOB) statements from their health care providers.

MIDAS uses real-time text messages and emails to alert users when a healthcare transaction is submitted to their health plan. The alert links to a secure wesite where the member can validate the transaction, or flag it as “suspicious.” Then, MIDAS resolution experts follow up on the flagged transactions.

The MIDAS website lists several benefits:

  • Lowers health care costs
  • Detects health care fraud and medical identity theft
  • Engages patients for Affordable Care Act (ACA) compliance
  • Uses proven fraud reduction strategies
  • Simple yet powerful
  • Accessible from anywhere with an Internet connection
  • Service is backed by experienced identity protection experts

Bob Gregg, CEO of ID Experts said:

“Consumers have easy access to their personal financial data yet their medical care transactions are a closed door... MIDAS will change this by bringing transparency to healthcare transactions, engaging members as the first line of defense in protecting their identities and uniting health plans with their members to combat fraud.”

PHIprivacy investigated the service, and reported that ID Experts does not share MIDAS users' information with other companies.

This service appeals for a three reasons:

  1. Lowering health care fraud should translate into lower health care costs and premiums for consumers,
  2. Most credit-monitoring solutions focus only upon financial transactions, and do not cover nor monitor for medical identity theft and fraud, and
  3. MIDAS can help more patients review their medical transactions; something experts advise patients do to, just like financial institutions and credit reporting agencies advise consumers to review their accounts and credit reports for fraud.

Note: this is not an endorsement. It is simply a news article to inform readers of a new service. I do not have any arrangements or relationship with ID Experts. If you subscribe to MIDAS, please share you opinions and experience below.

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