Algorithms
Technology can Dramatically Reduce Billions of Dollars in Medicaid, Medicare Fraud
Published in Medical Verdicts and Law Weekly, December 27th, 2007
According to the federal government and an NBC News report, U.S. taxpayers are annually defrauded of about $60 billion in Medicare payments to unqualified doctors and health care providers. A new system developed by S3 Matching Technologies of Austin, Texas, however, can make a significant impact on reducing Medicare and Medicaid fraud with algorithmic data matching. Using the company's patented TeraMatch(R) technology, S3's system matches numerous fields from huge databases and finds minute variances that can often reveal fraud by unqualified providers.
"Our technology looks at data in almost the same way a human would," said Jack Holt, CEO of S3. "The data matching...
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