Reportedly, CMS summarily suspended these hundreds of providers based in part upon the task force’s AI-assisted reviews of billing data to identify potential fraud.
The Centers for Medicare and Medicaid Services (CMS) has reportedly issued notices of suspension of Medicare payments to hundreds of hospice facilities and a number of home health agencies in the Los Angeles area, citing potential fraud.
The suspensions are the latest imposed in connection with the federal government’s Task Force to Eliminate Fraud, established by executive order, that focuses federal resources on fraud prevention and “disrupt and dismantle fraud networks and facilitators.” Reportedly, CMS summarily suspended these hundreds of providers based in part upon the task force’s AI-assisted reviews of billing data to identify potential fraud.
Providers notified of such a suspension have a very short period in…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.