Medical Biller Stole $1M From NY WC Surgeons

New Jersey medical biller Amrish Patel was convicted and sentenced for stealing more than $1 million intended for surgeons treating injured workers, New York Attorney General Letitia James and Inspector General Lucy Lang announced Thursday.
Patel used the stolen funds to finance luxury vehicles and vacations, undermining trust in the state’s workers’ compensation system, according to an announcement.
Patel, of Monroe Township, New Jersey, pleaded guilty to one count of insurance fraud in the second degree, a Class C felony. He was sentenced to five years of probation and ordered to pay $300,000 in restitution to his victims.
The conviction followed a joint investigation by the Attorney General’s Office, the Inspector General’s Workers’ Compensation Fraud Unit, and the New York State Insurance Fund (NYSIF).
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Key Risk, a subsidiary of Berkley Company, has launched a cannabis workers comp vertical.
With the rising adoption of medical marijuana, recreational cannabis, and CBD products, the need for specialized insurance solutions in this industry has never been greater.
The state-licensed cannabis industry added over 23,000 new jobs in 2023 and now employs over 440,000 full-time workers, according to data compiled by Vangst and Whitney Economics.
Year-over-year growth was especially strong in Michigan and more nascent adult-use markets such as Missouri, New Jersey, Connecticut, and Rhode Island.
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Oklahoma has cut workers’ compensation insurance loss costs by 9.2%, according to an announcement Tuesday by Insurance Commissioner Glen Mulready.
Since 2011, there has been a 71% decrease in loss costs.
The reduction, recommended by the National Council on Compensation Insurance, will go into effect for new and renewing policies effective Jan. 1, 2025.
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