7 Steps to a Compliant Financial Policy
About This Event
Understand the connection between risk management and financial policies within chiropractic practices. In today’s environment, improper billing, coding, and documentation can lead to significant financial losses. Financial policies are vital and often scrutinized by auditors. For instance, in 2015, Medicare audits yielded a 710% return on investment. This presentation delves into the importance of having a robust financial policy to mitigate risks. Kristi Hudson will guide attendees through the essential steps for crafting and executing a comprehensive financial policy, highlighting common pitfalls such as dual fee schedules, improper discounts, and violations of inducement laws. Furthermore, she will outline how to construct compliant hardship agreements, ensuring practices adhere to all applicable regulations.
Learning Objectives
- •Understand the critical relationship between risk management and financial policy development in chiropractic practices
- •Identify common compliance pitfalls including dual fee schedules, improper discounts, and inducement law violations
- •Learn the 7 essential steps for creating and implementing a comprehensive financial policy
- •Develop strategies to minimize audit risk and financial losses related to billing and coding errors
- •Master the documentation requirements necessary to support compliant financial practices
- •Construct legally compliant hardship agreements that protect both patients and the practice
- •Apply best practices to ensure financial policies withstand regulatory scrutiny and audits
Speakers
Event Details
Start Date
On Demand
End Date
—
Price
$0 – $50
CE Hours
1 hours
Format
Online / Virtual
Speakers
3
Premium Domain
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