Since the early 1990s, the Federal Government has made fighting fraud and abuse in the healthcare industry one of its top priorities. Escalating enforcement activities have physicians legitimately concerned that a single, alleged violation of one of the many regulations could bankrupt their practice.
Hayes, Utley & Hedgspeth, through MAG Mutual, can help protect your practice from these and other regulatory challenges:
- Medicare/Medicaid Audit - billing fraud
- HIPAA Compliance - improper disclosure/use of patient information
- Commercial Pay or Audits - billing fraud
- EMTALA Violations - non-compliance with laws/regulations
- STARK Violations - self-referrals and anti-kick back laws
RAC Policy Features include:
- Claims made policy with provision to buy "prior acts" up to the past six years
- Defense costs include costs of attorneys and consultants - also covered are fines and penalties
- Covers "shadow audits"
- Limits of $1M for single physicians and higher available for groups
- Substantial rate discounts for groups of 20 or more physicians
- Defense expenses are inside the liability limit
Please note the policy does not provide coverage for any overpayments an "insured" is required to return or refund to a government entity or commercial payor.
Premiums for RAC Insurance are based on number of physicians within the practice. The approximate premium per physician is $1,500. For more information, please contact one of our Medical Professional Liability advisors, Julie Hayes Leahy, Todd Sorrell, or Tom Elder today or Get a Quote Now.
