Justin Lankes is director of business development for Virtual Advantage.
According to Attorney General Eric Holder, efforts to fight Medicare fraud have yielded an impressive "return on investment" for the American taxpayer. For every dollar spent fighting fraud, approximately $7 has been recovered and returned.
For Special Investigations Units of insurance companies, showing a "return on investment" is a much-debated subject. In the Study on SIU Performance Measurement conducted by the Coalition Against Insurance Fraud, the consensus was that there was no consensus for measuring performance or ROI among small, medium, and large insurance carriers. However, everyone agrees that investing in fighting fraud is a must.
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