You protect your patients. We protect you.
That includes protection during a Billing Audit,
so we make sure you get exactly the coverage you need,
nothing more, nothing less. It’s that simple.
IT ONLY TAKES ONE
BILLING AUDIT TO
BANKRUPT YOUR PRACTICE
Billing Audit Insurance Can Insure Your Practice and Deliver You Peace of Mind
In August 2009, Medicare Recovery Audit Contractors (RACs) began auditing New Jersey healthcare providers and contractors to identify Medicare overpayments. Interestingly, RACs receive a percentage (between 9.0% and 12.5%) of any provider overpayments. Since 2006, the RAC program has recovered more than $1 Billion dollars!
. . . is your practice next?
• Expert Audit Defense Team
• Protection For Fines And Penalties
Billing Audit Insurance protects against:
+ Medicare/Medicaid audits including defense costs, fines and penalties
+ Unintentional billing errors and omissions
+ Emergency room treatment (EMTALA)
+ Suggested violations of patient privacy regulations (HIPAA)
+ Allegations of non-compliant patient referrals (STARK)
Small- and medium-sized practices are not below the RAC radar. However, many steps can be taken to avoid or minimize a medical practice’s exposure.
These can include, but are not limited to the following steps based on an article by Lucien W. Roberts written for PhysicianPractice.com.
1. Avoid the “copy/paste” documentation technique
2. Do not over-code Evaluation and Management services
3. Simplify your medical decision-making whenever possible
4. Reliance solely on an EHR system’s code selection decision-making skills is a “no-no”
5. Hire a Certified Professional Coder (CPC) to review your charts annually.
6. Document medical necessity, as the OIG feel certain services tend to be over-utilized and therefore become a target.
Not all Billing Audit policies are created equal – and neither are the carriers!
That’s why you need an independent Professional Protection Strategist to help you sift through the various policies – you need the Pros at Professional Liability Insurance Group!
Worried about high premiums? Professional Liability insurance can provide you with more Billing Audit protection than you think for much less money than you’d expect. That’s where our knowledge and experience can help protect you better.
Not all practices are created equal; you know this all too well. A Billing Audit insurance policy that accurately and specifically meets your needs is the perfect solution to protecting your practice and removing all of your worry for when, not if, that next Audit arises.