On Demand Webinar | Update | Accounting and Financial Reporting
The new Stark law and Anti-Kickback Statute changes provide exciting new opportunities to providers to better coordinate care. But with these new opportunities come new areas of compliance that will need to be addressed. This session will p...
Save
On Demand Webinar | Overview | Accounting and Financial Reporting
Learn how to leverage an internal audit function at your healthcare organization. Whether your organization already engages in internal audit activities, is considering an internal audit function or you want to learn about the role of an in...
Save
On Demand Webinar | Update | Accounting and Financial Reporting
This session will offer a review of new legal and compliance issues in the pandemic, as well as explore other issues of major legal importance that deserve focus.<div><br></div><div>Original Live Date: HFMA Digital Annual Conference (6/24/2...
Save
On Demand Webinar | Intermediate | Accounting and Financial Reporting
The CARES Act provided a number of different funding streams to healthcare providers in a very short amount of time. This left the industry with many questions regarding appropriate accounting and financial reporting for these funds. Former...
Save
On Demand Webinar | Overview | Accounting and Financial Reporting
As part of their ERP transition, Spectrum Health is transforming its' entire Procure-to-Pay (P2P) process. <br><br>Using outside sources, best practices, internal requirements and man other factors to guide them, Spectrum Health is taking f...
Save
Policies and Practices | Accounting and Financial Reporting

Accounting for RAC Audit Adjustments and Exposures

Policies and Practices | Accounting and Financial Reporting

Accounting for RAC Audit Adjustments and Exposures

This Principles and Practices Board issue analysis provides accounting guidelines for healthcare finance leaders who must respond to RAC audits and adjustments.

A Principles and Practices Board Issue Analysis

This issue analysis provides accounting guidelines for healthcare finance leaders who must respond to RAC audits and adjustments, including the following situations:

  • A healthcare entity receives a notification of RAC audit adjustments.
  • A healthcare entity suspects it may have billed for and/or been paid for services that are potentially non-reimbursable.
  • A healthcare entity is concerned about potential RAC adjustments for issues that have not yet been identified.
  • A healthcare entity receives notification of a RAC audit adjustment recovery.

The issue analysis also contains a helpful Q&amp;A section that provides detailed answers to specific RAC accounting questions.

Download the issue analysis

Advertisements

Related Articles | Accounting and Financial Reporting

News | Accounting and Financial Reporting

GASB seeks volunteers to participate in ‘field test’ of proposed changes

GASB is seeking volunteer organizations to test new governmental accounting standard rules.

News | Audit and Internal Controls

Why the internal audit function serves as a bulwark against risk for healthcare organizations

Internal audit is a risk-management function that becomes increasingly important for hospitals and health systems in times of crisis, such as the COVID-19 pandemic.

News | Coronavirus

CARES Act accounting implications will vary by healthcare type

The accounting rules for providers receiving funding through the CARES Act will vary widely by provider type.

Column | Financial Sustainability

Rolling forecasting will help get hospitals through the COVID-19 crisis

The upheaval hospitals and health systems are experiencing as a result of the COVID-19 pandemic has made traditional annual budgeting processes inadequate. Organizations should consider adopting instead a budgeting process based on rolling forecasting.