Fiduciary Responsibility

The results of HDM’s audit provide customers with assurance of their fiduciary responsibilities and compliance with Sarbanes-Oxley federal regulations. Sarbanes-Oxley Act has a material effect on corporate health-benefit programs. Specifically section 302 is certifying company quarterly and annual filings and section 404 is the requirements for companies to certify they have established, maintained and annually assess the effectives of internal controls. The Company’s audit assesses Administrator’s internal controls and our customer’s risk associated with self-insuring employee health benefits.  

Improve Future Performance

A review helps health vendors improve performance and create an opportunity to implement a plan for continual improvement. The audit can identify problem areas and their causes, suggest internal control improvements, and future cost savings.  Discovering just one internal control weakness or contract compliance issues will return a multiple of the dollars invested in the audit. A regular independent audit keeps vendors alert and lets them know clients demand a quality service.

Contract Renegotiation

A regular audit measures the performance of vendors and provides valuable information when renegotiating contracts.

Decision Support

HDM’s analysis provides valuable insight into health benefit expenses, quality of health plans and the ability to model future benefit design.  

Recovery of Overpayments 

The audit process and claims analysis can identify 2% to 5% of total health care dollars that have potentially been paid in error, or have provider-coding issues and other party liability issues. The result of HDM’s audit will be an excellent return on investment (ROI) due to the identification of claim errors and overpayments and recommendations to improve health plan performance and cost containment.  

If you have questions about this web site or need assistance e-mail info@hdminc.com or call 1-800-859-5119.

 

Types of Audits

Medical Plan Audit Pharmacy Plan Audit Dental Plan Audit Hospital Bill Audit Eligibility Audits

Value by Department

Corporate Finance HR/Benefits Internal Audit IT Department Healthcare Vendors Consultants

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