The combination of confused medical billing procedures, the shaky transition to electronic medical record-keeping and poor cyber security means a potential windfall for hackers who can sell that information to others who are then able to re-sell the access to those seeking either actual services or fraudulent reimbursements that become cash equivalents.
It is to some degree your life and therefore your money, but the reality is that credit card companies and retailers, those who consumers fear are the most sloppy in handling personal data, are doing a better job than the health care industry. This is significant because with an aging population, the costs associated with medical care may take a greater percentage of many developed nations' GNP than ever before in history. Which means an unprecedented opportunity for fraud and abuse. And medical data is the key to that unauthorized transfer of wealth. JL
Caroline Humer and Jim Finkle report in Reuters:
Consumers discover their credentials have been stolen to impersonate them and obtain health services. The reason to buy that data is so they can fraudulently bill.