Nov
10
Thinking of buying a medical supply business. Owners claim Medicare has audited for fraud. How to confirm?
By
Question: My brother is thinking of buying a medical supply business (wheelchairs, medical equipment, etc.) The vast majority of revenue comes through Medicare reimbursement. I’m concerned about the potential that much of their reported revenue is due to fraud. I don’t necessarily have a basis for this but just want to make sure. Anyone know where my brother can go to confirm that this audit happened. I don’t want to trust any documentation provided by the current owners.
Thanks.
2 Comments
November 10th, 2009 at 8:47 am
As far as DME companies are concerned, MEDICARE is very much on top of claims submitted to them. While it is common for DME companies to submit claims for products that were never provided to the patient Medicare is cracking down on that so I’m sure the audit took place. Seach CMS on google and I’m sure you will find some dept. to call to verify.
November 10th, 2009 at 9:02 am
Contact Medicare directly. Inquire if Medicare has an Audit or Fraud prevention department. Don’t give up the search for the truth even when you encounter poor services by Medicare since it is one of the most incompetent agency in this country.
Your brother is getting into the right industry since there are big population of the “baby boomers” who require various medical supplies for many years to come. It’s a recession proof business.
Good luck!