CMS’ Fraud Prevention System helped prevent or identify about $115 million in fraudulent payments during its first year of operation. In a recent report to Congress on the Fraud Prevention System, CMS said the system generated leads for 536 investigations and supported 511 ongoing investigations. Of the $115 million in estimated savings, CMS said $31.8 million were actual savings and $83.6 million were projected savings, defined as fraudulent payments that were indentified by the system but were not yet returned. “Although it is not typical for information technology investments to achieve a positive return on investments within just 12 months of implementation, the FPS produced an estimated $3 for every $1 spent in its very first year,” CMS said. The report is available here.
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CMS report attributes $115 million in fraud savings to predictive analytics
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