Auditing your medical practice will help you determine whether or not your practice's resources are being allocated to the programs and services that will result in the best return on investment, as well as measure the outcomes of both existing and new initiatives. However, while you engage in those efforts, your practice still needs to comply with the numerous and ever-changing regulatory and legal requirements that govern healthcare. This is the subject matter for this article in the Auditing Your Practice series on compliance solutions.
Though you can conduct many of the audits discussed in this series yourself, for many reasons, you should not manage your own compliance audit. First, an internal audit will not offer your practice credibility with any legal or regulatory agency in the event or a lawsuit or regulatory audit. Second, it is difficult or impossible to conduct an objective audit of your own practice and be sure that you are recognizing each and every potential problem that requires attention. Third, in all probability, you do not have the time or the detailed knowledge of all issues related to compliance required for such an undertaking. Fourth, hiring an outside auditing agency may sound expensive, but it's far less expensive than the fines and/or settlements an unfavorable audit or court case might bring.
An internal compliance audit from an agency such as TCS Compliance can help you conduct an audit of your medical practice that will help you uncover issues that you may never have known about otherwise, but that are vital to the continued success of your practice. Compliance agencies assess your practice's policies and procedures, make recommendations and help you implement solutions, and conduct regular assessments of your practice's progress and notify you of any needed changes. Working with a compliance agency means that you don't have to panic if you are notified of an impending audit, which could happen at any time due to an employee or patient complaint.
You can hire a compliance agency to audit your medical practice in terms of:
Training / Training DocumentationPolicies and Procedures, Recordkeeping, and DocumentationQuality ControlAccreditationInsuranceMedical Coding and Records (including reimbursement maximization and reducing claim denials)Employee Handbooks and ADA, EEOC, and OSHA IssuesCorporate ComplianceHIPAA / HITECH, DEA, CDC, and CMS RegulationsMSDS, Fire Safety, and Disaster PlanningWhen you hire an outside agency to conduct your audit, be sure they will take the time to understand your practice's current programs and needs, rather than simply giving you a list of blanket recommendations that would apply to any medical practice. Make sure the agency will support your transition in the areas that need improvement instead of just handing you a checklist of items to accomplish. And last, seek an ongoing relationship with the agency so they can continue to monitor your practice's compliance efforts, as well as notify you of regulatory changes so your practice can keep up with the ever-changing medical field.
To read more please visit: http://www.practicemanagerlife.com/auditing-your-practice-compliance-solutions/ or if you would like to join our practice manager network just click http://www.practicemanagernetwork.com or you can call 877-315-3338 and we will be happy to assist you or answer any questions you might have.
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