Learn About the Intricacies of a Post Payment Audit in Woodbury, MN

by | Jan 28, 2021 | Computer and information science

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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.

Final Recommendations

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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