Made Rac

Made Rac
Petersburg Council, Wrangell Assembly discuss energy Jessica Wacker January 21, 2010.
January 21, 2010. The Borough of Wrangell Assembly and City of Petersburg Council met on January 14 with hopes of bringing open discussion to the table regarding energy issues amongst others.
For More Made Rac Info Click On The Blue Links Below

In section 306 of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA), Congress directed the Department of Health and Human Services (DHHS) to conduct a 3-year demonstration program using Recovery Audit Contractors (RACs) to detect and correct improper payments in the Medicare FFS program.

The Recovery Audit Contractor (RAC) demonstration program was designed to determine whether the use of RACs will be a cost-effective means of adding resources to ensure correct payments are being made to providers and suppliers and, therefore, protect the Medicare Trust Fund. The demonstration operated in New York, Massachusetts, Florida, South Carolina and California and ended on March 27, 2008.

RACs succeeded in correcting more than $1.03 billion of Medicare improper payments Approximately 96% of these were overpayments collected from providers, while the remaining 4 percent were underpayments repaid to providers.

Section 302 of the Tax Relief and Health Care Act of 2006 makes the RAC Program permanent and requires the Secretary to expand the program to all 50 states by no later than 2010.

According to CMS, the RAC demonstration program has proven to be successful in returning dollars to the Medicare Trust Funds and identifying monies that need to be returned to providers. It has provided CMS with a new mechanism for detecting improper payments made in the past, and has also given CMS a valuable new tool for preventing future payments.

The goal of the recovery audit program is to identify improper payments made on claims of health care services provided to Medicare beneficiaries. Improper payments may be overpayments or underpayments. Overpayments can occur when health care providers submit claims that do not meet Medicare's coding or medical necessity policies. Underpayments can occur when health care providers submit claims for a simple procedure but the medical record reveals that a more complicated procedure was actually performed. Health care providers that might be reviewed include hospitals, physician practices, nursing homes, home health agencies, durable medical equipment suppliers and any other provider or supplier that bills Medicare Parts A and B.

It is now more critical than ever that you review your current billing and compliance policies to ensure that you are in line with the regulations required by the Centers for Medicare and Medicaid Services so that you can take corrective action immediately if inconsistencies are identified.

Dallas L Alford IV, CPA is a licensed Certified Public Accountant in the state of North Carolina and owner of Atlantic Financial Consulting, a consulting firm that provides comprehensive medical billing services, practice management consulting, coding audits, Medicare compliance, and other general medical practice consulting services.

To learn more about Atlantic Financial Consulting and to sign up for their monthly educational newsletter, you may visit their website at http://atlanticfinancial.us or contact Dallas L Alford IV, CPA at 1 888-428-2555, Ext. 200.

Many thanks for reading our Made Rac article

• Zoom Pro
• Zero Restriction

Tagged with: made rac • web

Filed under: Golf Clubs

Like this post? Subscribe to my RSS feed and get loads more!