Saudi Arabia – Insurance abuse costs millions of Riyals
Wednesday, 05 17 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
A number of specialists of the health insurance sector confirmed that the abuse in using health insurance contracts results from the manipulation exercised by some hospitals and the excessive use of lab and x-ray tests as well as the excessive use of medicines that cost millions of Riyals and are incurred insurance companies. In parallel, some insurance companies delay treatment or surgery settlements for a patient or delay the settlement of the cost of medicines. This problem remains between insurance companies and hospitals and every party blames the other. Therefore, the patient is the victim in some cases whereas the insurance contract guarantees a high quality of medical services in the best hospitals of the country.
The insurance sector expert Mr. Fahad Al Anazi said that insurance fraud worldwide ranges between 15% to 17% indicating that fraud operations increase the costs incurred by insurance companies and will have an impact on the future performance of these companies.
Source: Al Riyadh Newspaper