Discover Compliance Opportunities

In the healthcare industry, finding yourself out of compliance can be costly. Maximize your reimbursements by ensuring that your organization remains compliant with the industry’s ever-changing regulations.

Compliance & Reimbursement

1. Explant Monitoring

Neglecting to monitor explant warranties and recalls, along with all of the required information, can result in steep penalties from a Recovery Audit Contractor (RAC) audit. The Audit Group’s system tracks all of the CMS required information in an easy-to-access format, protecting your organization from non-compliance fines and ensuring credited funds are received.

Explant Monitoring Guide

2. Pharmacy and 340B Pricing Analysis

TAG’s Pharmacy Pricing Analysis service reviews each line item within a distributor’s data. We check Group Purchasing Organization (GPO), Wholesaler Acquisition Cost (WAC), and 340B separately to compare pricing fluctuations across unique National Drug Codes (NDCs).

The Audit Group transitions healthcare organizations to new, more favorable pricing. We identify sub-WAC contracts to reduce exposure. In our thorough process, 340B eligible locations are verified through the HRSA database to ensure that accurate pricing is implemented across all locations. We monitor and advise on bulk purchases when products reach “penny prices,” making sure that your organization continues to receive the best pricing for years to come.

3. Item Master Optimization

Incorrect item master entries can lead to missed rebates, contract non-compliance, and overpayment for ordered items. By cleaning, organizing, and optimizing your item master, The Audit Group removes any outdated or duplicate items and standardizes your records. For entries that are currently on contract, we identify the contract expiration and validate the contract pricing, eliminating confusion or overpayment.

Item Master Optimization Guide

4. Recovering Escheated and Unclaimed Property

The return process for funds transferred to the state can be arduous. If not monitored consistently, money that could be added to your bottom line will stay with the state. To ensure that your organization continues to recover and receive funds, The Audit Group reviews current processes and works to develop a strategy that matches your departmental capabilities. Additionally, we review annual escheatment reports for our clients and perform an extensive search for all unclaimed properties.

Discover compliance opportunities. Contact us.

“I have worked for several organizations that have engaged The Audit Group to perform various functions and am always impressed with their well-seasoned and professional staff. Results have always been outstanding in large part due to the professionalism and diligence of the staff.”

Mark Combs
Divisional VP of Supply Chain

Mercy Health Partners

“I was impressed with the approaches TAG has developed over the years. This allows them to focus on areas of high return for an organization, while helping AP personnel improve their processes to minimize errors and duplicate payments.”

Catherine Wakefield
Former Chief Compliance and Chief Audit Executive

MultiCare Health System

“The Audit Group made it a painless process. They know the healthcare business, they know the suppliers, and they know the stones to overturn looking for overpayments, duplicate payments, or payment not according to contract. They are like an old, reliable employee whom you call upon to help you out. You can’t go wrong with TAG.”

Douglas B. Butt, CPA
Accounts Payable Manager

Columbia St. Mary’s

Mike Dean

Mike Dean

Director, Client Solutions

In the 26 years that Mike has been with TAG, he has worked within Supply Chain, Accounts Payable, and Finance departments to recover funds and develop processes that meet the needs of each organization. His favorite baseball team is the St. Louis Cardinals.

Jon McCracken

Jon McCracken

Manager, Pricing

Jon just celebrated his 27th anniversary with TAG. His vast experience gives him insight into the subtle nuances of managing costs through pricing and working with a team to complete pricing reviews on all projects. He fills his spare time with baseball (Cardinals, of course!) and playing golf.

Mike Reinink

Mike Reinink

Manager, Process Improvement

Mike has been with TAG since 2010. He spends his days reviewing millions of lines of data for anomalies, utilizing his previous auditing experience. His favorite team is the Detroit Tigers, followed closely by the St. Louis Cardinals.

Optimize Cash Flow

Navigate the complexities of your organization’s revenue and expenses. With a full analysis, healthcare providers can ensure revenue opportunities are fully identified, cash management is optimized, and vendor disbursements are correct.

Analyze Funds