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R&R Insurance Blog

Is Your Healthcare Practice Covered For Compliance Allegations?

Posted by the knowledge brokers

In 2009, medicare reclaimed $2.51 billion from physicians and other health-care providers which is a 29% increase over the prior year. Over $441 million in federal medicare money was returned in 2009 which was a 29% increase over 2008.

R&R Insurance offers protection for your practice and reputation with FFActs Regulatory Compliance Insurance. Coverage Includes:

  • Protection from Alleged Medicare/Medicaid Overpayment and Commercial Payor Audits (including RAC)
  • Alleged Violations of HIPAA (Patient Privacy), STARK (Patient Referral) and EMTALA (Emergency Room Treatment)
  • For Medicare Commercial Payor audits, Regulatory Insurance covers penalties, fines, defense and consulting work up to $1 million for a single claim
  • provides experience legal experts and consultants
  • Offers protection from six year Medicare look back period
  • Board of Medical Examiners review coverage included

For more information about Regulatory Compliance Insurance, contact a knowledgebroker.

Topics: Healthcare, RAC audits, regulatory compliance insurance, FFActs, protect your practice, Business Insurance

Cardiology Physician Group Covered For $2.4 Million Repayment

Posted by the knowledge brokers

A four-physician cardiology group in Mississippi was targeted by the Center for Medicare Services (CMS). After an initial review of 159 claims, CMS determined that 30 were improperly paid. Based on the error rate, CMS demanded more than $2.4 million be repaid to the Medicare program within 30 days.

Fortunately, the group had purchased the Regulatory Compliance Insurance coverage and immediately reported the audit. The response to CMS resulted in the overpayment amount being reduced to less than $3,000. The cost of the expert defense work was significant, but was fully covered by the insurance policy minus a small deductible. The cost of the insurance was less than $7,000 for the group.

Topics: Healthcare, medicare services, regulatory compliance insurance, medicare program, CMS, cardiology, physician cardiology group, Business Insurance