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December 13, 2018
Medical equipment for hospitals and healthcare systems can range from a small needle to an enormous MRI machine. Shipping such heavy equipment incurs large freight costs for hospitals. Without foresight or proper monitoring, excessive freight costs can be mistakenly approved for payment. For example, during a recent Discovery Review, we identified that a health system paid $28,000 for freight on operating room equipment when the actual freight charge was $11,000. Causes for Incorrect Freight Charges In the case of the health system that we worked with recently, it all came down to the payment policy. This health system allowed freight […]
August 8, 2018
Every business experiences human error from time to time, but systematically omitting humans from your financial process often creates a new set of challenges. We know machines aren’t perfect, so even if your financials are somewhat automated, you should always have someone overseeing the process. We recently uncovered a year-old computer error that had cost our more than $10,000–all for a box of staples. Take a look. Through our Discovery Review Process and Item Price Benchmarking, experts at The Audit Group conduct a full analysis to ensure your health system’s cash management is optimized and your organization is receiving optimal […]
