What We Do
Castlestone creates applications to address the needs of the health care industry and other industry markets, primarily using technologies developed for the financial services industry. These industries are moving closer together, as health care reform, changes in payment responsibility, insurance reimbursement and product marketing dictate that financial and clinical information and transaction processing take place in real time.
We create applications for the health care community that take advantage of the speed, performance and scale of the financial networks to deliver real-time information from wherever it originates (the millions of available swipe terminals) to wherever it is needed- to verify health plan eligibility, process claims, track customer purchase behavior, account for prescription activity, and control costs of outpatient services. We are able to implement these applications quickly and effectively, over any size or customer range, with the costs commensurate with the scope of the customer’s operation.
Get Ready For the Medical ID Fraud Crisis
False medical claims are on the rise; a trove of stolen heath care data lies dormant. A rise in health care fraud isn't far behind.
Inc. Magazine Acticle
It is a documented fact that unscrupulous healthcare professionals - and dishonest patients - file more than $77 billion worth of fraudulent Medicare and Medicaid claims on an annual basis.
Meanwhile, cyber criminals have been busy the past two years pilfering medical ID data for tens of millions of citizens, as well as business records from hundreds, if not thousands, of healthcare service providers and insurers.
These two malevolent forces are on a collision course. A massive trove of stolen healthcare industry data has been lying mostly dormant in the cyber underground. And there are clear signs that cyber criminals are moving to use this stolen data to ramp up new variants of faked claims and medical ID fraud, as I discuss at greater length in my book, Swiped: How to Protect Yourself in a World Full of Scammers, Phishers and Identity Thieves.
This crystalized for me after I had the opportunity to speak with Jeff Leston, president and CEO of Castlestone Advisors. Based in St. Louis, MO, Leston has been scrutinizing these developments since 2003. That's when he began working on what he believes to be an elegant solution to rising healthcare records fraud. But before we get to that, here's the wider context: