National Report Pharmaceutical Fraud Day is observed annually on January 23. Did you know that 10% of all Medicare funds are lost due to fraud? Reportedly, one of the largest culprits of Medicare fraud allegations has been pharmaceutical companies. The day is observed to spread the word that whistleblowers will get large rewards for reporting pharmaceutical fraud. Also, it gives information to the public on how to report one properly. Hopefully, through this initiative, pharmaceutical fraud will cease to exist with the help of public awareness.
History of National Report Pharmaceutical Fraud Day
National Report Pharmaceutical Fraud Day was established in 2017 by Joel D. Hesch, an attorney representing whistleblowers and helping them get rewards for reporting fraud. He worked in the Department of Justice (DOJ) Whistleblower Reward Office in Washington D.C. for more than 15 years and worked on cases recovering $1.5 billion. He wrote a free ebook explaining the whole process of detecting and reporting pharmaceutical fraud. He believes that the more whistleblowers step forward, the less likely companies will try to cheat Medicare.
Reportedly, 10% of all Medicare funds are lost due to fraud, and one of the largest culprits of Medicare fraud allegations has been pharmaceutical companies. The government is spending $650 billion a year on the Medicare program, so it means that in one year, $65 billion is lost to Medicare fraud. That is a lot of money, and it makes fraud a national health care crisis. Every dollar on the Medicare program creates a difference for elderly and disadvantaged citizens that need health care. This is the main reason why pharmaceutical fraud must cease to exist.
There are two different ways to report pharmaceutical Medicare fraud. The first way is to report it under the U.S. Department of Justice (DOJ) Whistleblower Reward Program. The second is to report it directly to the Centers for Medicare & Medicaid Services (C.M.S.), which is in charge of the Medicare program. If you report it to the DOJ for a reward, one of the pros is that the government will most likely open an investigation; one of the cons is that your name will eventually be made known. If you report it directly to the C.M.S. without a DOJ reward, the advantage is it will be quick and easy; the disadvantage is you will not know whether the government will open an investigation.
National Report Pharmaceutical Fraud Day timeline
Congress passes the Medicaid Rebate Statute, ensuring that the federal government does not overpay for drugs supplied to Medicaid program beneficiaries.
The Hesch Firm, LLC, a staunch nationwide advocate for whistleblowers, is founded by Joel D. Hesch.
GlaxoSmithKline, a British multinational pharmaceutical company, agrees to pay $3 billion in a fraud settlement.
National Report Pharmaceutical Fraud Day is established by Hesch to bring awareness to the problem.
National Report Pharmaceutical Fraud Day FAQs
What is the largest healthcare fraud settlement in history?
Pfizer has often been reported in paying the largest healthcare fraud settlement and criminal fine in history.
Can pharmaceutical companies sell directly to consumers?
Reportedly, the direct-to-consumer advertising of prescription drugs is only legal in the United States and New Zealand.
Which country is the largest producer of generic drugs?
India is the world’s largest supplier of generic medications, which accounts for 20% of the worldwide drug supply by volume.
How to Observe National Report Pharmaceutical Fraud Day
Spread the word
Tell others about National Report Pharmaceutical Fraud Day so that the bigger part of the community can be part of the solution to the illegal practice. The more people know about it and step forward, the less likely companies will try to cheat Medicare.
Download Hesch’s ebook
Equip yourself with information on Medicare fraud. You can find the information needed in the ebook by Hesch regarding benefits and risks as well as the pros and cons of the methods of reporting pharmaceutical fraud.
Report if you see fraud
Report if you notice any pharmaceutical fraud, especially on this day. You can report it without a DOJ reward if you want and simply report it directly to the C.M.S. However, there is no guarantee that the government will open an investigation if you choose the latter method.
5 Facts About Medicare Whistleblower Rewards
It’s between 15% and 30%
If you file properly, you’ll receive a reward between 15% and 30% of the funds recovered.
The largest reward
The largest reward in a single Medicare fraud case was $150 million.
The average reward
The average reward for reporting Medicare fraud is $690,000.
It’s over $4 billion in total
The total amount of rewards already paid to the whistleblowers is more than $4 billion.
Reportedly, the Department of Justice rejects 75% of reward applications due to several reasons.
Why National Report Pharmaceutical Fraud Day is Important
To share the news
We can be part of the solution to the pharmaceutical fraud that causes a national health crisis. Sharing the news about this day is the least we can do to raise public awareness so others can partake in reporting it properly.
To help save the Medicare funds
Every dollar makes a difference for citizens that need health care. If more people know how to report fraud properly, pharmaceutical companies will think twice about cheating Medicare. Eventually, the Medicare funds will be in good hands.
To get the necessary information
The ebook by Joel D. Hesch is one of the sources of information on pharmaceutical fraud. The day allows us to equip ourselves with the necessary details in case we need to report a fraud.
National Report Pharmaceutical Fraud Day dates