The Recovery Audit Contractors identify improper Medicare payments and correct them. The contracts for the four RACs were originally scheduled to end in February 2014. However, due to delays in awarding new contracts, reviews were extended through Dec. 31, 2014.
Under the new contract award, the four private companies will be able to audit healthcare providers for improper payments through Dec. 31, 2015. In addition, the companies are under contract through April 30, 2017 for administrative purposes.
Through June 2014, the RACs had corrected more than $8.8 billion in improper payments.
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