Accounting managers in the healthcare industry should be aware and educated on the many facets of healthcare fraud. Once educated on the critical matter of patient billing and the types of fraudulent activity, accounting managers can provide superior service.
According to the University of Alabama at Birmingham, “Healthcare fraud accounts for an estimated 3-5% of total costs with 21% being billing errors.” The top three errors occurring right now are billing errors, false schemes, and expense reimbursement. One example of false claims or an error are providers overbilling for services which can really upset the patient who already have enough to worry over.
This is where the management accountant will step in with their expertise in identifying trends and developing systems for the billing process to be more transparent to the patient.
University of Alabama at Birmingham Online