RiskPro® Newsletter - July 2010
Probability Risk Assessments
The recent news about the Gulf oil disaster gives us pause to think about what may have been prevented by using a detailed Probability Risk Assessment (PRA) for the project as part of their Enterprise Risk Management (ERM) program. While British Petroleum has stepped up and funded a $20 Billion claim account, it is less clear that this account will contain all of the resources required to clean up the disaster. Would a detailed Probability Risk Assessment have helped avert or mitigate the disaster? Do you use them for your major projects or business operations?
Our Risk Compliance and Audit Practices Continue to Grow
Our compliance and audit practices continue to grow with the addition of new technology and services to determine Medicare eligibility under MMSEA 111. All we need is a copy of your most recent loss run for General Liability and Workers Compensation claims to provide a free independent best practices analysis for this area of your business.
Non-Covered Medicare Part D Drugs
Effective on June 1, 2010, the Centers for Medicare and Medicaid Services (CMS) enacted a change for those workers compensation (WC) Settlements effected prior to June 1, 2010 where the settlement included non-covered Part D Drugs as part of the Workers Compensation Medicare Set Aside (WCMSA). CMS will now consider funds spent for those non-covered Part D drugs by beneficiaries and claimants as being appropriate expenditure of funds as part of the WCMSA. Please contact us for further assistance regarding this recent procedural change for off-label and/or unlabeled outpatient uses. We can also assist you in determining whether these drugs are considered covered by Medicare Part D and, therefore, appropriately included in a Medicare Worker's Compensation Set-Aside Agreement (WCMSA) proposal.