AI Article Synopsis
- Healthcare organizations should prioritize securing the right insurance coverage as a core part of their corporate compliance programs.
- Many provider organizations incorrectly assume that their existing D&O, malpractice, or general E&O insurance policies will cover costs associated with Medicare fraud and abuse penalties.
- The insurance industry has created a specialized billing E&O insurance product designed specifically for providers facing government fraud and abuse violations.
Article Abstract
Healthcare organizations concerned about corporate compliance need to review securing appropriate insurance coverage as part of their corporate compliance program. Provider organizations often mistakenly expect that their directors and officers liability (D&O), malpractice, or standard errors and omissions (E&O) insurance policies will cover the cost of Medicare fraud and abuse fines. The insurance industry has developed a specific billing E&O insurance product to cover providers that run afoul of government fraud and abuse statutes.
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