GAO: Government misspent billions on Medicare/Medicaid

A bunch of money that is in the shape of a bird.

Last year, Medicare financed health services for approximately 54 million elderly and disabled beneficiaries at a total cost of $603 billion. Of that, approximately $60 billion went toward improper payments, according to a report issued last week by the Government Accountability Office (GAO) Most of that misspent money, about $45.8 billion, went toward the Medicare…

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GAO: CMS ready for ICD-10, but are you?

A blue silhouette of a person with a cell phone and question mark.

There is good news for healthcare providers coming out of the Government Accountability Office: The Centers for Medicare and Medicaid Services is prepared for the switch to ICD-10 on Oct. 1, according to a newly released report. The 41-page report notes that CMS has undertaken “a number of efforts†to prepare for transition to the…

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