A Medicare overpayment exceeds regulation and statute properly payable amounts. When Medicare identifies an overpayment, the amount becomes a debt provider owes the federal government. Federal law requires Medicare to recover all identified overpayments. Common reasons for Medicare overpayments include incorrect coding; insufficient documentation; medical necessity errors; and processing and administrative errors. Proper understanding of Medicare overpayments is essential for successfully handling them.
If you realized Medicare did overpayment then you simply can’t keep that money. Providers must report and repay Medicare overpayments within 60 days of identifying them. This includes overpayments identified within six years of when the overpayment is received. You can refer to the following guidelines on successfully handling Medicare overpayments:
Failure to comply with the Medicare overpayments rule could result in liability under the False Claims Act as well as monetary penalties and exclusion from federal healthcare programs. Be on the lookout for overpayments, and take proactive steps to ensure compliant documentation and coding. In case if you need to conduct an external billing audit, MedicalBillersandCoders (MBC) can assist you. As per your medical specialty, we can provide you with external audit services covering all medical billing processes. To know more about our Medicare billing audit services, contact us at info@ medicalbillersandcoders.com/ 888-357-3226