7 Steps to a Compliant Financial Policy

Explain what risk management has to do with your financial policy. There is now a greater risk of financial loss due to improper billing, coding, documentation and a faulty financial policy. Financial policies in Chiropractic are a major area of risk and the easiest for auditors and investigators to target. In 2015, for every dollar Medicare spent on audits and fraud investigations resulted in $7.10 paid into Medicare’s coffers. (710% ROI) This presentation will review how the lack of a solid financial policy will put you at risk and review the steps to be sure that your financial policy covers all layers of rules and regulations.

Kristi Hudson will use her knowledge to teach the steps for creating and implementing a sound financial policy. She will discuss how to avoid the common pitfalls that lead to dual fee schedules, improper time of service discounts and inducement violations. She will also review the steps for developing a compliant hardship agreement.