health care fraud
Definition
The act of intentionally submitting false or misleading information to a health care program or insurance provider to obtain illicit financial gain.
A white-collar crime involving fraudulent activities such as billing for services not rendered, upcoding, or prescribing unnecessary medical procedures.
Examples
The doctor decided that if his yacht wasn't going to pay for itself, the Medicare system would simply have to take the hit.
Billing a minor splinter as a complex neurosurgical procedure is certainly one way to optimize your portfolio, provided you don't mind a federal prison jumpsuit.
Engaging in health care fraud is a bold strategy for early retirement, assuming that retirement consists of twenty years in a facility with very strict visitation rules.
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