Cardiology Physician Group Covered For $2.4 Million Repayment
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.
For more information about Regulatory Compliance Insurance, contact knowledgebroker Carla Borda at 262-953-7138.
Carla Borda is R&R Insurance’s Professional Liability Specialist, with major concentration on the healthcare industry and medical malpractice. More about Carla Borda.