Skip to content
business — Funding — Medicaid — Loan — Appointed — Mehmet — Medical-conditions — health-and-wellness — Discusses — Finance — Inefficiencies — Science — Savings — Funds

Medicaid's hidden issue causing huge financial losses for the U.S., with Dr. Oz sounding the alarm on alleged exploitation of the system.

Medicare and Medicaid Systems Urged for Significant Overhaul by Dr. Mehmet Oz Due to Discovered Inveterate Waste

,   and  Administrator
3 min read
Medicare and Medicaid systems require significant revisions, according to Dr. Mehmet Oz, who's...
Medicare and Medicaid systems require significant revisions, according to Dr. Mehmet Oz, who's serving as a CMS administrator, due to uncovered waste and inefficiencies in the current setup.

Medicaid's hidden issue causing huge financial losses for the U.S., with Dr. Oz sounding the alarm on alleged exploitation of the system.

In an exclusive interview on Fox & Friends, Trump's newly appointed Medicare and Medicaid Services Administrator, Dr. Mehmet Oz, spoke about his ambitious plans to reform these vital programs.

That's Where the Money Goes:Dr. Oz pointed out that the system is misallocating funds, stating, "In Medicaid, we've got a problem. We're not funding the program as it was originally envisioned, because we're shifting so much of it to able-bodied individuals." He argued that the current system is riddled with systemic waste.

The Billion (or More) Dollar Question:Determined to eliminate this waste, Dr. Oz spoke about discovering a suspicious pattern of Medicaid patients receiving benefits in multiple states. "We're here in California now. If you're a Medicaid patient in California and you move to Nevada, who does the federal government compensate? It turns out... Both. This is a prime example of the type of inefficiency we're looking to eradicate."

From One State to Another:To crack down on such discrepancies, the Trump administration will launch an investigation, starting with the identified loopholes, and ultimately shutting down these areas of waste. Dr. Oz concluded by stating, "We have tens of billions of waste, fraud and abuse. But if we fix that and make the system more efficient by identifying those problems, we have hundreds of billions of dollars of potential benefit by making the system work better for Americans."

A Heart Surgeon's Take:As a renowned heart surgeon turned politician, Dr. Oz highlighted the importance of quality over quantity, asserting, "The most expensive care we give is bad care. If we can improve the value of what we offer to Americans, we're going to get a lot of savings naturally."

Unveiling the Plan: Dr. Oz's Strategy for Reducing Medicare and Medicaid Waste

  • Combatting Fraud, Waste, and Abuse: Dr. Oz's primary focus is on addressing fraudulent and wasteful practices within Medicare and Medicaid.
  • Improved Detection and Auditing: Increased auditing initiatives will help identify improper payments and abuse, with oversight from a new Department of Health and Human Services (DHHS) Inspector General
  • Correcting Coding Fraud: Addressing aggressive or fraudulent coding by providers is essential for curbing overpayments, particularly within Medicare Advantage plans.
  • Price Transparency: Enhancing transparency around healthcare pricing will enable consumers to make informed decisions and reduce unnecessary charges.
  • Modernizing Medicare and Medicaid: Leveraging technology and policy reforms aims to streamline program administration and reduce opportunities for abuse.

Impact of Potential Savings

  • In 2023, Medicare and Medicaid experienced over $100 billion in improper payments[5]. By addressing these improper payments, Dr. Oz's administration could potentially save the federal government hundreds of billions of dollars over time.

In conclusion, Dr. Oz's aggressive approach to crack down on fraud, deploy increased oversight, enhance transparency, and modernize program administration paves the way for a more efficient Medicare and Medicaid system—targeting billions in wasteful spending and providing Americans with high-quality healthcare.

  1. Dr. Mehmet Oz, appointed as Medicare and Medicaid Services Administrator, discusses his plans to reform these programs, aiming to slash inefficiencies and billions in waste and fraud.
  2. In Medicaid, there's a problem, states Dr. Oz, as funds are not allocated as originally intended due to the shifting of the program towards able-bodied individuals.
  3. Dr. Oz highlights a suspicious pattern of Medicaid patients receiving benefits in multiple states, resulting in double compensation by the federal government, which he intends to eradicate.
  4. To combat discrepancies, the Trump administration will launch an investigation, focusing on identified loopholes and aiming to shut down areas of waste.
  5. As a heart surgeon turned politician, Dr. Oz emphasizes the importance of quality over quantity, as the most expensive care comes from bad care.
  6. Unveiling his plan, Dr. Oz's strategy for reducing Medicare and Medicaid waste includes combatting fraud, improving detection and auditing, correcting coding fraud, enhancing price transparency, and modernizing the programs.
  7. By addressing improper payments in Medicare and Medicaid in 2023, Dr. Oz's administration could potentially save the federal government hundreds of billions of dollars over time.

Read also:

    Related

    Latest