Recovery Auditing
Our innovative Discovery Review begins with a recovery audit and ends with a procure-to-pay risk analysis
EACH YEAR HEALTH SYSTEMS NATIONWIDE LEAK OVER $1.7B
On average, our clients recover only 65% themselves leaving $595M lost.* We find that 10% of those leaked funds are lost forever due to countless reasons such as vendors making unauthorized applications.
However, we are able to recover an average of 25% of these funds to each of our healthcare clients through our self-funded Procure-to-Pay (P2P) recovery audits. These recovery efforts add potential industry savings of $425M annually.
How much of the $1.7B comes from your health system?
Do not let your health system continue to lose millions of dollars annually. Turn to TAG to recover and stop your organization’s funds from leaking and optimize your P2P processes.
LEAKED BY HEALTH SYSTEMS EACH YEAR
TAG’S PROCURE-TO-PAY RECOVERY AUDITING SERVICES
Our standard Supply Chain and Accounts Payable (AP) recovery audits review areas that uncover the most common and repeated P2P errors include:
Duplicate Payments
Overpayments
Returned Goods
Vendor Statement Collection
Contract Review
Discount Compliance
Rent & Lease Compliance
Rebate Compliance
Freight Charges
Erroneous Tax
Explant Credit Recovery
Escheatment/Unclaimed Property
Miscellaneous Charges
TAG’S SPECIALTY REVIEWS
PHARMACY & 340B PRICING REVIEW
Our pharmacy pricing analysis service reviews pricing available from group purchasing organizations (GPOs), individual contracts, manufacturer contracts, wholesaler acquisition costs (WACs), and the federal 340B program to locate pricing fluctuations across unique National Drug Codes (NDCs) with respect to the accounts’ class of trade (COT). We compare these findings to each line item within a distributor’s data to help health systems take advantage of the most favorable pharmaceutical pricing available to them.
Through this analysis, we also verify the correct and lowest 340B pricing by utilizing the Health Resources and Services Administration (HRSA) database and GPO roster to ensure that accurate pricing is implemented across all accounts that are eligible for Disproportionate Share Hospital (DSH) or 340B pricing.
FUTURE CONTRACT/ITEM SAVINGS
On top of contract compliance, at TAG, we dive deeper into our clients’ data, combine it with our extensive industry knowledge, and discover opportunities where health systems like yours could be paying less for the items you are purchasing. GPO’s say they offer similar services, but we go the extra step and work with your vendors to verify and implement the savings for the life of your contracts.
PURCHASED SERVICES REVIEW
With over 30% of a health system’s operational expenses coming from purchased services analyzing and properly tracking purchased services is vital to a successful P2P process. Our review begins when we receive your data and supporting documents including contracts. Contracts play a vital role in managing purchased services and recovering funds for overcharges and erroneous charges.
CLASS ACTION LAWSUIT SETTLEMENTS
Our experience and knowledge of working with the nation’s top class action litigators and settlement administrators allow us to create new recovery opportunities outside the standard scope of audits. Our comprehensive recovery process identifies class-action lawsuit settlement opportunities for your health system and provides assistance in preparing and submitting all required documents and claim forms to recover funds. We then reconcile the settlement results and distribute your recovery dollars back to your organization.
