ERISAclaim.com Press
Release
FOR
IMMEDIATE RELEASE:
New Healthcare
Overpayment Recoupment Embezzlement Recovery Service Announced In Wake
Of Launch of New Federal Task Force To Combat Healthcare Fraud Crisis 11-19-2009, Hanover Park, IL
Will Obama's New Financial Fraud Task
Force Catch The New "Trillion-Dollar Madoff" In The Widespread $1
Trillion Healthcare Overpayment Recoupment Embezzlement Crime?
ERISAclaim.com Believes That Private Sectors Shall Be The Equal
Partners To The Federal Government In Fighting And Preventing Another
Financial Meltdown, And Must Take Proactive And Primary Roles In
Conjunction With The Government Fraud Task Force To Save Our Economy
And Healthcare System.
Hanover Park, IL (PRWEB)
November 19, 2009 -- ERISAclaim.com announced today the new healthcare
overpayment recoupment embezzlement recovery services in the wake of
the new federal task force to combat healthcare fraud crisis.
On Tuesday, November 17, 2009, the United States Attorney General Eric
Holder announced at the Department Of Justice (DOJ) Financial
Fraud Enforcement Task Force Press Conference that an Interagency
Financial Fraud Enforcement Task Force was launched under President
Obama's executive order to combat financial crime.
In order to make new
Obama Financial Task force mission possible, Dr. Jin Zhou with
ERISAclaim.com, with unique knowledge of industry known facts, has
launched the nation's first unique embezzlement recovery service to
help midsized and large sized ERISA plans to recover millions of
dollars on a complete contingency basis, to recoup as much as possible
from the recoverable but overpaid healthcare dollars to the original
payers and owners who initially paid out overpaid claims by TPAs and
ASOs and are now entitled to the ownership for and the possession to
an estimated billions of dollars in the $6 trillion dollar healthcare
denial management market.
The Attorney General
Eric Holder said in prepared remarks that, "This task force's mission
is not just to hold accountable those who helped bring about the last
financial meltdown, but to prevent another meltdown from happening."
"Will Obama's new
financial fraud task force catch the new 'trillion-dollar Madoff' in
the widespread $1 trillion healthcare overpayment recoupment
embezzlement crime?" commented by Dr. Jin Zhou, the President of
ERISAclaim.com.
"We face unprecedented challenges in responding to the financial
crisis that has gripped our economy for the past year", said
United States Attorney General Eric Holder at the press conference.
This new task force is
apparently a part of Obama's campaign promises for vigorous
enforcement to resuscitate U.S. economy, and in the wake of economic
recession and federal securities regulator's failure in one of the
biggest $65 billion financial fraud in U.S. history committed by
Bernard Madoff in a decades-long scheme, as observed by Dr. Jin Zhou
of ERISAclaim.com.
"The stakes are very
high for the administration, particularly with current congressional
debates on the real costs to finance the new health care reform and
the lack of measurement to contain health-care costs, waste and
fraud", said Dr. Jin Zhou.
"It's not enough to
prosecute fraud only after it's become widespread," Treasury Secretary
Timothy F. Geithner said at the DOJ press conference. "We can't wait
for problems to peak before we respond. We're seeking comprehensive
financial reform to create a more stable, safer financial system and
stepping up our enforcement strategy."
In responding to this
new Obama preventative enforcement task force mission, Dr. Jin Zhou
from ERISAclaim.com, an industry expert in healthcare claims and
employee benefit administration, made the following statements in
launching the new overpayment recoupment embezzlement recovery
services:
Obama Administration
has the right "Art of War" strategy in fighting against the financial
fraud war, a superb strategy to win the war before the war breaks out,
but the talking is cheap, and seeing is believing.
Overpayment recoupment
embezzlement is a widespread financial fraud that has gripped our
healthcare system in about $1 trillion healthcare overpayment
recoupment embezzlement crime.
ERISAclaim.com
believes that private sectors shall be the equal partners to the
Federal Government in fighting and preventing another financial
meltdown, and must take proactive and primary roles in conjunction
with the government fraud task force to save our economy and
healthcare system.
Overpayment recoupment
embezzlement fraud or crime is typically committed sophisticatedly by
health plan's third-party administrators (TPA) or "TPA Madoff" in the
scams by initial negligent overpayment to healthcare providers from
the plan assets, especially from self-insured employer-sponsored
plans, and subsequent unauthorized overpayment recoupment on behalf of
self-funded plans under "anti-fraud initiatives" and ultimately
fraudulent embezzlement of plan assets by failing to refund or return
the recouped money to the original self-funded health plans. The
current overpayment recoupment embezzlement fraud is very
sophisticated and complicated, as it was usually committed under
anti-fraud campaign and with participation of federal and state law
enforcement to the extent of the alleged healthcare provider fraud
investigation and prosecution. Based on the industry reports and
published numbers, it is estimated that overpayment recoupment market
could well be over $1 trillion as most recoupment actions have gone
back two to six years with $2.5 trillion health expenditure annually
and $6 trillion in denied claims annually. This "trillion-dollar
Madoff" will overshadow the "billion-dollar Madoff".
Unless with in-depth
industry knowledge and intimate know-how, it is extremely difficult
for the ordinary plan sponsors to decipher this kind of
trillion-dollar recoupment embezzlement scam, that is why Bernard
Madoff's billion-dollar scam was harder to be discovered for decades
than those million-dollar or thousand-dollar financial or health care
fraud.
"A successful
enforcement and recovery from $1 trillion overpayment recoupment
embezzlement market may very well finance the most, if not entire,
healthcare reform, as the House Bill passed last week will provide
coverage to 96% of Americans under $900 billion threshold outlined by
President Obama", said Dr. Jin Zhou, the president of ERISAclaim.com.
"Whether or not
Obama's new task force will catch real "trillion-dollar Madoff" soon
enough or only afterwards remains to be seen", as cautioned by Dr. Jin
Zhou.
For more information
or to arrange an interview, please visit http://erisaclaim.com/Embezzlement_Recovery.htm,
or contact Dr. Jin Zhou, president of ERISAclaim.com, at 630-808-7237.
###
Contract:
Jin Zhou,
President
ERISAclaim.com
Tel:
630-808-7237 (Mobile)
Tel:
630-736-2974 (Office)
Fax:
630-736-1439
E-mail:
ERISAclaim@aol.com
website:
http://www.ERISAclaim.com
Related Press Release links:
ERISAclaim.com
Announced The Nation's First Embezzlement Recovery Services for Large
ERISA Health Plans from the $6 Trillion Healthcare Denial Management
Market 10-23-2009, Hanover Park, IL
ERISAclaim.com Announced Free ERISA Webinar for Healthcare Overpayment
Dispute and Claim Denials in Response to Increasing High Demand from
the $6 Trillion Healthcare Denial Management Market
10-19-2009, Hanover Park, IL
ERISAclaim.com Announced the Expansion of Its ERISA Litigation Support
For the Healthcare Claims In Response to Increasing High Demand from
the $6 Trillion Healthcare Denial Management Market.
10-19-2009, Hanover Park, IL
ERISAclaim.com
Announced 2010 ERISA Seminars for Healthcare Overpayment and Claim
Denial Appeals for the $6 Trillion Healthcare Denial Management
Market.
10-14-2009, Hanover Park, IL
ERISAclaim.com
Announced the Nation's First Certification Program for the ERISA
Claim Appeal Specialist for Healthcare Providers and Managed-Care
Payers,
10-13-2009, Hanover Park, IL
Interactive Side-By-Side
Health Reform Comparison Tool of Major Proposals
(Kaiser Family Foundation)
Excerpt: "The Foundation has updated its health
reform resources to reflect provisions of the Affordable Health Care for
America Act (HR 3962) as passed on Saturday by the U.S. House of
Representatives."
Information updated 03/26/2010
