Accounting and Financial Reporting
Accounting for RAC Audit Adjustments and Exposures
October 17, 2012
5:22 pm
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&A section that provides detailed answers to specific RAC accounting questions.
