Compliance Concerns for Medical Practices

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It’s every business owner’s favorite topic: compliance. When you’ve got a profitable and busy business to run, compliance issues sometimes get put on the backburner… exactly where they don’t belong. Because you specialize in healthcare services and not necessarily government regulations, taking the time to review healthcare-specific laws and policies often take much longer than planned. Unfortunately the Department of Labor (DOL) doesn’t often wait around to administer and enforce its 180 federal laws.

Here are just 3 concerns that medical practices have:

  1. HIPAA: The Health Insurance Portability and Accountability Act protects the privacy of individually identifiable health information. HIPAA also comprises of the HIPAA Security Rule, which sets national standards for the security of electronic protected health information and confidentiality provisions of the Patient Safety Rule, which protects identifiable information being used to analyze patient safety events and improve patient safety. In an earlier post, we addressed how important it is for medical practice owners or employees who are delegated to manage compliance to be fully aware of the HIPAA policy and procedures. A single violation of compliance can result in fines capable of crippling your cash flow.
  2. RACs: Recovery Audit Contractors (RACs) have been auditing claims for the Medicare program nationwide since 2010, which subject health facilities to additional administrative burden and costly payment denials.
  3. Compliance Programs: A compliance program is required as of March 2013 by any healthcare provider, including dental, that bills Medicare, Medicaid, and/or programs funded by federal or state governments. Eligible compliance programs include guidance on billing, coding, and contracts which are now required under the Affordable Care Act. There are nearly 40 policies that include the screening of all employees monthly against state and federal exclusion databases…. Do you have the time?

Many medical practice owners choose to engage a PEO for the sole purpose of eliminating headaches and ensuring employer compliance. In addition to the many other benefits PEOs provide, PEOs protect – against costly lawsuits, against compliance failure, and against preventable workplace mistakes/accidents.

To learn more about PEO solutions, contact us.