Big tech is transforming every aspect of our world. But how, and at what cost? This season of Land of the Giants – The Disney Dilemma – focuses on Disney’s ability to weather the ups and downs of the business cycle and changing tastes and explores what has kept it successful for over 100 years. The entertainment giant has leveraged nostalgia and its intellectual property to build a beloved brand, but after an acquisition spree that included Marvel, Lucasfilm, and 20th Century Fox, can it sus ...
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Season 7 - Episode 50 - #TerryTuesday - Independence and Objectivity in Auditing!
Manage episode 440407990 series 3341054
Content provided by Sean M. Weiss. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean M. Weiss or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Summary
In this conversation, Sean and Terry discuss the critical importance of conducting audits in healthcare practices, emphasizing the need for both internal and external reviews to ensure compliance and accuracy in coding and billing. They highlight real-world examples of practices that have suffered due to a lack of audits and the biases that can occur in internal reviews. The discussion also touches on the role of compliance in healthcare and the upcoming topic of prior authorizations.
Takeaways
- Many practices have never conducted an audit of their coding and billing.
- Internal audits can be biased and may not capture all issues.
- External audits provide an objective perspective on compliance.
- Providers often make assumptions about documentation that can lead to errors.
- The Department of Justice emphasizes independence in auditing practices.
- Training and education are crucial for coding staff.
- Practices can lose significant revenue due to improper billing.
- Compliance plans should include prior authorization processes.
- Auditing is essential for identifying fraud and ensuring compliance.
- Investing in audits can save practices money in the long run.
364 episodes
Share
Manage episode 440407990 series 3341054
Content provided by Sean M. Weiss. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Sean M. Weiss or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Summary
In this conversation, Sean and Terry discuss the critical importance of conducting audits in healthcare practices, emphasizing the need for both internal and external reviews to ensure compliance and accuracy in coding and billing. They highlight real-world examples of practices that have suffered due to a lack of audits and the biases that can occur in internal reviews. The discussion also touches on the role of compliance in healthcare and the upcoming topic of prior authorizations.
Takeaways
- Many practices have never conducted an audit of their coding and billing.
- Internal audits can be biased and may not capture all issues.
- External audits provide an objective perspective on compliance.
- Providers often make assumptions about documentation that can lead to errors.
- The Department of Justice emphasizes independence in auditing practices.
- Training and education are crucial for coding staff.
- Practices can lose significant revenue due to improper billing.
- Compliance plans should include prior authorization processes.
- Auditing is essential for identifying fraud and ensuring compliance.
- Investing in audits can save practices money in the long run.
364 episodes
All episodes
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Similar to The Compliance Guy
Big tech is transforming every aspect of our world. But how, and at what cost? This season of Land of the Giants – The Disney Dilemma – focuses on Disney’s ability to weather the ups and downs of the business cycle and changing tastes and explores what has kept it successful for over 100 years. The entertainment giant has leveraged nostalgia and its intellectual property to build a beloved brand, but after an acquisition spree that included Marvel, Lucasfilm, and 20th Century Fox, can it sus ...
…
continue reading
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…
continue reading
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continue reading
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…
continue reading
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…
continue reading
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continue reading
In each episode of "Goldman Sachs Exchanges," people from the firm share their insights on developments shaping industries, markets and the global economy.
…
continue reading
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