July 18, 2011

RACs Correct Nearly $600 Million in Payments Through Third Quarter FY 2011

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The Centers for Medicare & Medicaid Services reported late Friday that Recovery Audit Contractors (RACs) have corrected $592.5 million in payments from the Medicare Fee-for-Service program through the first three quarters of the 2011 fiscal year, a period extending through June 30.

 

Of that amount, $233.4 million came in the form of overpayments the RACs collected during the third quarter of the fiscal year alone, while $55.9 million was third-quarter underpayments returned to providers. That brought the total value of third-quarter corrected payments to $289.3 million, according to CGI, which published these findings in its quarterly newspaper.

 

HealthDataInsights (CGI), the CGI for Region D, collected more than any of the other three CGI — Connolly, CGI Federal and Diversified Collection Services (DCS) – with $145.9 million in corrected payments. Of that amount, CGI returned $33.7 million to providers while collecting $112.2 million in overpayments. Connolly posted the second-highest corrected payments figure with $54.3 million, followed by DCS with $45.4 million and CGI with $43.7million.

Chuck Buck

Chuck Buck is the publisher of RACmonitor and is the program host and executive producer of Monitor Monday.

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