How to Reduce Healthcare Fraud Risks with Automated Obligations Management Solutions?
Fraud and abuse in healthcare cost billions of dollars annually — well, not surprising!
5 Common Types of Healthcare Fraud Detected in 2021 Across the United States
- Billing for services not rendered
- Misrepresenting date, location, or provider of service
- Incorrect reporting of diagnosis or procedures
- Corruption and kickbacks
- False issuance of prescription drugs
Healthcare Fraud is the problem! Do we have a solution yet to combat those frauds?
Complying with the myriad of regulations can be challenging for healthcare providers who focus on priorities, including medical billing, care delivery, payer compliance, and revenue cycle management.
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Regulatory compliance obligations govern all agreements in the healthcare world. Such regulations include HIPAA, Stark I, II, III; False Claims, HITECH, Federal Anti-Kickback Statute, and JCAHO, to name a few. Moreover, healthcare providers should understand fundamental healthcare fraud laws, implement a compliance program, and improve medical billing and business operations that deter participation in healthcare fraud and abuse activities.
Do you think AI-based Contract Management is a Strategic Priority for Healthcare Organizations?
Can implementation of the healthcare obligation management and compliance solution combat risks of healthcare fraud in healthcare provider contracts? Yes, indeed — by implementing a well-designed compliance program, a healthcare organization can:
- Speed up and optimize proper payment of claims
- Minimize billing and “creative” invoicing mistakes
- Reduce the chances of a HealthCare Financing Administration (HCFA) or Office of Inspector General (OIG) audit
- Avoid conflicts with self-referral and anti-kickback statutes
Learn how to Embrace Healthcare Obligation Management For Fraud Prevention
Want to learn more about how and why automated obligation management solutions in the healthcare industry combat fraud?
