An article written by PYA Principal Tynan Kugler, Senior Manager Susan Thomas, and Julie Roth from Spencer Fane, LLP is featured in the latest edition of the Association of Healthcare Internal Auditors New Perspectives. “Show Me the Money! Audit Physician Compensation Arrangements” examines considerations for evaluating various compensation arrangements and stresses the importance of conducting regular audits to proactively identify risk and assure regulatory compliance.
Violations of federal regulatory requirements can not only be costly but also embarrassing to a health system, its physicians, and its executives—potentially causing long-lasting reputational damage. Several healthcare organizations have paid significant penalties for excessive or improper physician compensation arrangements that exceeded [fair market value] and may not have been commercially reasonable.
By completing regular, detailed physician compensation arrangement reviews as part of your annual audit plan, many potential compliance violations can be mitigated or even prevented.
Read the full article here.
This article was reprinted with permission from Volume 40 Issue 4 of New Perspectives, published by the Association of Healthcare Internal Auditors (AHIA), www.ahia.org.
If you would like more information about how PYA assists organizations with internal audit strategies, or for assistance with any matter involving compliance, valuation, or strategy and integration, contact one of our PYA executives below at (800) 270-9629.