Medical identity fraud is the fastest-growing segment of overall identity theft. An estimated 2 million Americans were victims to medical fraud last year alone, accounting for about 43 percent of all identity crimes.
Like with other forms of ID fraud, medical ID thieves assume an individual’s persona to falsify medical claims and receive medical care.
The total cost of medical identity fraud to a victim is significantly higher than credit or financial identity theft. Recent data indicates a value of $22,346, which is six times greater than the cost of financial identity theft.
But the real cost is that medical fraud can put health and lives at risk. Find out more about this troubling trend by reading InfoArmor CEO Drew Smith’s piece in Becker’s Health IT & CIO Review: