Ironshore: Focus On Health Care Providers
Bermuda’s Ironshore Inc. said today [Oct. 13] its specialty health care unit, IronHealth, has expanded its government billing Errors & Omissions product suite to include a tailored policy form for US managed care organisations.
Headquartered in Hamilton, Ironshore said its new product is similar to its health care provider policy form and is designed as a policy option to provide flexible coverage to protect managed care organisations during in-depth government audits and investigations of their Medicare and Medicaid billing practices.
In addition, the existing health care provider form and the new form have been enhanced to allow integration with other coverage that an organisation may purchase, specifically managed care E&O for managed care organisations as well as directors and officers liability coverage for health care providers, the insurer said in a statement.
Ironshore said federal prosecutors had 1,787 pending health care criminal fraud investigations involving 2,977 defendants last year. They negotiated about $2.5 billion in judgments or settlements and returned more than $18 billion to the Medicare Trust fund.
A programme launched by the Centers for Medicare and Medicaid Services in January 2010 aims to identify and recover improper Medicare payments to fee-for-services programs and health care providers through automated and human reviews to determine the medical necessity of procedures.
