decisionhealth Newsletters, Part B News - 2011 Issue 8 (August)
Physician practices increasingly turn to audit insurance
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Article Overview
This article explains why some physician practices are considering audit insurance and what kinds of compliance-related expenses these policies may help address. It covers the general market trend, the types of events and proceedings commonly discussed in this insurance context, and the practical considerations physicians should weigh when evaluating coverage. The piece is intended for physicians, practice managers, and billing/compliance professionals who want a broad understanding of this risk-transfer option and its limitations.
Why This Topic Matters
Audit and compliance events can create significant financial and operational strain for medical practices. Understanding the scope and limits of audit insurance helps practices assess whether this type of coverage fits their risk management approach.
What You Will Learn
- What audit insurance is and how it is generally positioned for medical practices
- What categories of audit- and investigation-related expenses are commonly discussed
- Why interest in this type of coverage has increased among physicians
- What limitations and practical considerations are associated with these policies
- Why ongoing compliance and record protection remain important even when insurance is in place
Who Should Read This
- Physicians
- Medical practice owners
- Practice managers
- Billing and compliance staff
- Healthcare administrators
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