One of the most important business tools a healthcare organization has is the post-payment audit. This helps the organization identify problems with payments, such as overpayments. In order to perform this process correctly, one must monitor billing and coding activity on a regular basis. Yet, there is a lot more to it. Get a better understanding of what a Post Payment Audit consists of.
The Triggering Event
There are a few different ways that this type of audit can come about. First, system alerts may notify you about aberrant billing activity. Second, frequent billing disputes from customers or third parties may signal that an audit is needed. Yet, once you know that a post payment audit is necessary, you also need to understand what the next step is.
A Brief Look at the Process
All audits are essentially a review of financial records. Post
payment methods are no different. In this scenario, an insurer will
look at the claims which have been paid, and compare them to the
medical records. In cases where the numbers don’t add up, the insurer
will make a demand for repayment. As you can see, these audits can be
very time-consuming. They can also cost your organization a lot of
money if your records are not up to par. Due to this, be sure to be
prepared for post-payment activity.
In conclusion, the best way to avoid an audit is to maintain accurate
financial records. Start by focusing on compliance early on. This
will limit the chances of problems if an audit is necessary.
For more assistance with financial services, visit Belmero Inc. by visiting https://www.belmero.com/.
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