Myth 1: I outsource my billings to a third party biller so I don’t have the exposure.
Fact: The provider of medical services faces the largest threat as the provider will be audited for services rendered under his or her national provider identification (NPI) number, regardless of whom actually submits the bill for services.
Myth 2: I am covered under other insurance policies.
Fact: Regulatory coverage is typically not included in general liability or Misc E&O policies. If coverage is included in a medical malpractice policy, the limits are generally low.
Myth 3: The statute of limitations is 6 years.
Fact: Look back periods and statutes of limitations don’t apply when the Feds enters an audit. The OIG, DOJ, FBI or State Attorney General may audit a single physician for 11 plus years of their billings.