Why the Government Wants You to Embrace Data Analytics
$1.4 Billion Fraud Takedown
Compliance programs have moved past the early days of completely random audits and monitoring. And that’s why none of us should be shocked that we’re seeing a ton of compliance and data analytics stuff. The government uses data analytics to drill down and find the most significant areas of concern, and that probably means that as a compliance expert, you should too. In fact, the U.S. Department of Justice clearly demonstrates in a guidance document the expectation that you should. And the future? The future is going to be even more data driven.
It’s likely that data analytics, as a core component of a compliance program, will increase in importance and priority moving forward (and not just because everything tech-related is exploding in a sort of Terminator-esque sort of way). Christi Grimm, the HHS Inspector General, recently shared important insight about the future of data in healthcare compliance in her keynote address at the HCCA’s Compliance Institute. She stated, “At OIG, we are harnessing data and technology to detect and respond quickly to merging fraud schemes. For instance, we recently uncovered a scheme where laboratories were billing Medicare for expensive, unnecessary, and sometimes unprovided genetic tests. On average, these tests can cost Medicare around $1,500 each. The alleged fraud in this takedown is $1.4 billion and higher.”
Fellow compliance professionals, we have our marching orders. Let’s go.
Download our most recent eBrief, “Why the Government Wants You to Embrace Data Analytics,” by our compliance expert, CJ Wolf MD, to find out why the:
- OIG uses data analytics to detect fraud schemes
- U.S. Department of Justice expects you to embrace data analytics
- Future of data analytics will grow exponentially in coming years