Medical identity theft is becoming a growing concern, with victims having to pay over $13,500 to resolve the crime. Additionally, about 50% of consumers would switch healthcare providers if they were worried about the security of their medical records. Medical identity theft has reputational impacts for both consumers and providers, with a 22% increase in cases from the previous year. Healthcare organizations are taking steps to address this issue, such as removing Social Security numbers as patient identifiers and investing in technologies for accurate reconciliation.
The True Cost of Focusing on Cost Instead of Cost-Effectiveness
When payors consider only the cost of the medication and not the cost and risk to the patient, doctor, and healthcare system, the irony is
