BMA Calls for Yearly Medicare Advantage Plan Audits to Improve Program Integrity
The Board of Medical Advisers (BMA) has recently announced a call for yearly auditing of Medicare Advantage Plans. This program has integrity and better protects beneficiaries.
Problem with Medicare Advantage Program
Medicare Advantage has become increasingly popular as a health insurance alternative to Medicare, offering additional benefits and less out-of-pocket costs. However, it has seen its share of problems. Other issues include inaccurate coding, poverty levels, and overpayments.
Auditing Plan
In order to combat the issues. BMA is asking that CMS require that Medicare Plans should be audited annually. This auditing would cover all aspects of the plan including finances, program integrity, and quality assurance.
The goal of the audits would be to ensure that Medicare Advantage Plans are providing correct and quality services to clients. Also, the audits would help identify any problems in the program and help create the perfect actions.
Benefits of Audits
Beneficiaries would benefit from such audit requirements as they would provide increased transparency and accountability.
This would help to ensure that the services being offered by the plans are up to par. It would also help to reduce instances of fraud and abuse of the program by plans and providers.
Final Thoughts
The BMA’s call for yearly Medicare Advantage Plan audits is a welcome step toward the goal of promoting program integrity. Audits could provide key insights into the functioning of the plan and help identify areas in need of improvement.
Beneficiaries would benefit from the audits as they would ensure that plans are providing quality services as required by CMS. What’s more, CMS could take corrective measures to minimize instances of fraud and abuse.