OIG Posts Fall Semiannual Report

The following was provided by David Zetter [djzetter@cavmich.com] to the members of the National Society of Certified Healthcare Business Consultants (www.nschbc.com):

OIG today posts its final Semiannual Report to Congress for Fiscal Year (FY) 2007 along with an accompanying press release. You can get to the full publication here: 

http://www.oig.hhs.gov/publications/docs/semiannual/2007/SemiannualFinal2007.pdf

And the full release:

http://www.oig.hhs.gov/publications/docs/press/2007/SemiannualRelfall2007E.pdf

A portion of the release:

OIG Reports Record $43 Billion in Savings and Recoveries

The Department of Health and Human Services (HHS) Office of Inspector General (OIG) Semiannual Report to Congress reported total fiscal year (FY) 2007 savings and expected recoveries of $43 billion; $5 billion more than last year and more than double the savings and recoveries of just five years ago.

OIG’s FY 2007 $43.08 billion in savings encompasses $39 billion in implemented recommendations and other actions to put funds to better use; $1.9 billion in audit receivables, up from $789 million in FY 2006; and $2.18 billion in investigative receivables, an increase of $578 million from FY 2006.

“We will build on the work summarized in this report and continue to concentrate resources where challenges are greatest and benefits most advantageous to taxpayers and beneficiaries,” said Inspector General Daniel R. Levinson. “Such challenges include continued attention to Medicare Part D; Medicare, Medicaid, and SCHIP payment integrity; Medicaid administration; quality of care; public health emergency preparedness and response; food, drug, and medical device safety; grants management; information technology systems and infrastructure; and ethics program oversight and enforcement.”

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.