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Medical Identity Theft Costs Victims $13,450 Apiece

  • 25 February 2015
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By: Sara Peters
 
New study shows not only is medical identity fraud costly for individuals, it's happening a lot more often.
 Having steadily grown over the past five years, medical identity theft increased by a whopping 21.7 percent in 2014, according to a new report conducted by the Ponemon Institute on behalf of the Medical Identity Fraud Alliance (MIFA).
Unlike the financial services industry, which has evolved to detect fraud and absorb the costs, the healthcare industry lags far behind, forcing individuals to feel the brunt of the costs. Sixty-five percent of the victim individuals had to pay to resolve the issue -- on average, $13,450 per person, including payments to healthcare providers, insurers, identity service providers, and legal counsel.
 
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The following article is a update
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Medical identity theft affected two million victims in 2014.
Posted on 27 February 2015.The number of patients affected by medical identity theft increased nearly 22 percent in the last year, an increase of nearly half a million victims since 2013.

http://www.net-security.org/images/articles/medical-022015.jpg
In the five years since the survey by the Medical Identity Fraud Alliance began, the number of medical identity theft incidents has nearly doubled to more than two million victims.  full article

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