Deacon, principal of VerSan Consulting, continues to spread awareness about the fiduciary duties of plan administrators, vendors and health plans. She recently was a guest on the Compliance Perspectives Podcast to educate listeners about ERISA, and the exposure that self-funded employers have as health plan administrators. She also discusses the opportunities that this legal fiduciary obligation can instill, empowering self-funded employers to always act in a manner is solely in the interest of plan beneficiaries and to take agency over their plan spend and trend.
Healthcare billing is complex and prone to payment mistakes. In this segment, Christin emphasizes the importance of exercising your legal right to own your claims data and utilizing it to properly fulfill your fiduciary responsibilities. She shares how unfiltered access to your data leads to better overall accountability and oversight. Furthermore, she advises how a fiduciary can only function as a responsible plan administrator by having firm financial controls.
Listen to Deacon discuss how to honor the fiduciary duties of your self-funded plan:
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