As Healthcare Spending Rises So Will Regulations and Investigations

According to a recent report, healthcare spending in the United States will continue to rise by an average of 5.4% per year from 2022 through 2031. By 2031, healthcare spending is projected to reach $7.17 trillion, or 19.6% of the gross domestic product.

The rising healthcare costs in the United States have been a major concern for a long time, and state and federal governments will continue to attempt to curb costs through legislative and regulatory means. Unfortunately, fraudsters tend to follow the money, which means we may see more investigations in the healthcare provider and pharmaceutical arenas. 

Although the impact of artificial intelligence (AI) and blockchain on curbing healthcare costs and fraud and abuse schemes is still unknown, it is clear that Congress and federal agencies such as the DOJ, OIG, HHS, CMS, and FTC will continue to scrutinize the industry. It is crucial for healthcare providers and pharmaceutical companies to stay informed about the latest developments and regulations in the industry and take proactive measures to ensure compliance.