Billing Errors & Omissions Insurance
Protects Physicians in the Event of Government or third Party Payor Audits & Investigations
Billing Errors & Omissions Insurance provides legal and audit expense reimbursement as weel as coverage for fines and penalties associates with medical billing errors or violations of HIPAA, EMTALA or STARK proceedings.
The Physicians Billing Errors & Omissions insurance will provide coverage for you in the event you are investigated for billing and coding errors. Coverage includes the costs associated with defending yourself (attorney fees, audits, appeals bonds, etc.), as well as the cost for civil damages and penalties for erroneous billings, which can be as high as $5,000 to $10,000 (per CPT code).
Physicians Billing Errors & Omissions Liability Insurance is a unique coverage that should be considered by all physicians submitting bills to public (Medicare/Medicaid) or private (health plans and HMO’s) sector payors. The Federal Government (FBI, OIG and DHHS) has made compliance a very important issue and is targeting physicians for fraud through incorrect billing and coding. Doctors can be held liable for honest mistakes.
We at The Doctors Insurance Agency are available to answer any question. Please call our Billing Errors & Omissions Liability Insurance specialist Kay Isola at (800) 553-9293 X 101 or email click here.