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.
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.
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 By cleaning, organizing, and optimizing your item master, The Audit Group removes any outdated or duplicate items and standardizes your records.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.
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.