WHAT DOES OIG COMPLIANCE PLAN 2014 MEAN FOR YOUR PHYSICIAN BILLING OFFICE ?

Presented by Adam DenySmith

Are You The Right Spectator For This Webcast ?

Does your medical billing office deem that OIG’s Strategic Plan 2014 is obscure and creepy ?

Did you encounter scores of impediments to espouse federal and commercial payer policies ?

Until 2013 suffered revenue loss due to penalizations under payer policy breaches ?

Then, this is your perfect topography to instigate your proactive plan for “ethically” perking-up the cash flow in your practice.

Understand – Scrutinize - Optimize

Understand: At the outset, it is very crucial for the medical practices to get acquainted with the OIG’s Strategic Plan 2014 – their four goals and priorities.

Scrutinize: Inspecting your practice for the deficiency in ethically streamlined medical billing is highly imperative to prepare your practice meet the OIG’s Strategic Plan 2014.

Optimize: Once the lacunae are identified in your medical billing process, you could set the ball rolling.

Then, periodical auditing, process improvement, skills development, etc. must be done to ensure the highest safety and profitability.

This plan stabilizes and saves the medical practices that are apprehensive about the stringent federal policies and shrunken reimbursements.

OIG’s Goals and Their Crux

1.To Fight against Fraud, Waste, and Abuse This is the critical mission of OIG to

prevent, spot, investigate and take necessary action against the wrongdoers and improve the public fund recovery.

2.To Promote Quality, Safety, and Value

This goal is set to enhance the value of federal dollars by promoting public safety with enhanced quality of care.

3 . To Secure the Future This is a clear prospective goal

laid down to thwart the susceptibility of long-term health and viability of healthcare programs. The utilization of electronic health records (EHRs) to secure the healthcare data is one of the imperative entities in this goal.

4.To Advance Excellence and Innovation This goal is chiefly fixed

to empower HHS’ own resources like manpower, technology, etc. and it has relatively low direct impact on physicians.

Fair and Square Profit-making...

As a physician, you may be highly saddled with the emerging healthcare management and delivery systems, technology boom, healthcare reforms, resource paucities, etc.

But, when it comes to the OIG’s legal arena – no excuses! So, get set with the following vital components to make your practice a cash-cow.

Tips to thwart OIG’s non-compliance perils

Every physician must extract, understand and follow all the OIG’s healthcare regulations so that they needn’t run their practice ethically adrift.

You could have CPCO (Certified Professional Compliance Officer) and CPMA (Certified Professional Medical Auditor) to formulate a vivid medical billing protocol in sync with the OIG’s medical billing regulations.

Regular internal audits must be conducted in your practice to check end-to-end OIG-compliance.

Compliance could not be a one man show! So, all the staff members in your practice must undergo periodical staff development program to keep an eye on the OIG-compliant process.

Conclusion

If you are a physician perplexed with the healthcare reforms and payer guidelines with respect to:

HIPAA Compliance HITECH Act/ Meaningful EHR Use ICD-10 testing & coding Payer-specific billing

Ping BillingParadise @ 1-888-571-9069 for a FREE-CONSULTATION !