WASHINGTON - Feb. 19, 2020 - Today the Healthcare Business Management Association (HBMA) announced that Psych Administrative Partners is now accredited under the HBMA Compliance Accreditation Program for revenue cycle management (RCM) companies (a.k.a., medical billing and medical practice management companies) and offered its congratulations. The HBMA Compliance Accreditation Program is designed to assess compliance with a range of federal healthcare industry regulations, including provisions to protect patient privacy under HIPAA, promote cybersecurity, and prevent fraud, waste, and abuse in medical billing.
Psych Administrative Partners is a RCM company based in Olympia, WA that serves behavioral health practices in multiple states. "A solid compliance plan is vital for any organization needing to demonstrate ethical and responsible business practices. I would like to thank HBMA for providing this opportunity and I am very proud to demonstrate a commitment to compliance in order to serve our client practices to the best of our ability," said Susan Frager, CEO and founder of Psych Administrative Partners.
"HBMA understands that medical billing and revenue cycle management companies operate in a complex, highly regulated profession, fraught with high consequences for failure. By achieving HBMA Compliance Accreditation, Psych Administrative Partners has demonstrated by independent evaluation that their practices surpass federal requirements to protect confidential patient medical information, secure their data systems, and prevent fraud," said Cindy Pittmon, RCC, CHBME, FRBMA, president of HBMA.
The HBMA Compliance Accreditation Program is the result of the RCM industry coming together within HBMA to establish a process to independently assess the participating company's program to fulfill its obligation to meet regulatory requirements. The HBMA Compliance Accreditation Program assesses compliance with HIPAA and with Health and Human Service Office of Inspector General compliance standards on fraud, waste and abuse; the Stark Law, which is designed to prevent conflicts of interest by medical providers in their prescribed patient care; federal Anti-kickback law; and the OIG work plan. The assessment under the HBMA Compliance Accreditation Program includes a comprehensive evaluation of the policies and practices of RCM companies with respect to employee training; security risks, including the security of confidential patient health information; documentation storage and handling; practices to promote compliance with federal regulations; disaster and emergency preparedness plans; and human resources practices, including background check procedures and onboarding.
The program was announced in April 2018 and was officially launched in October 2018 after beta testing by four HBMA member companies.
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