Laboratory services represent a large target for potential fraud and abuse. While the typical lab claim is low in cost, the sheer volume of testing performed provides many opportunities for potential compliance risk and monetary losses related to fraud and abuse whether knowing or unknowingly accomplished!
This complex environment of billing compliance risk has greatly reduced the margin for error when it comes to the strategy and management of laboratories and the preservation of revenue. Few resources are found that provide a comprehensive understanding of these risks.
As the nation’s premier laboratory consulting firm, the Nichols Management Group (NMG) takes our mission seriously to advise clients on the identification and implementation of optimal laboratory strategies to reduce risk and improve revenues. Therefore, NMG is offering this complementary white paper, “Reducing Billing Compliance Risk for Laboratories – Preserving revenue in a changing environment” to better help you understand the systemic challenges that can lead to the potential for billing compliance fraud and abuse in clinical laboratory services as well as the associated mitigation.