OIG Examines Part D Financial Record Audits
A new OIG review found that CMS did not fully comply with federal requirements that it audit financial records for one-third of Part D drug plan sponsors in 2006 through 2008. According to the OIG report, “Review of the Centers for Medicare & Medicaid Services’ Audits of Part D Sponsors’ Financial Records,” CMS excluded certain contracts subject to audit because CMS interpreted the statutory requirement as allowing it to do so. The OIG also found that CMS had not updated its audit resolution standard operating procedure (SOP) to reflect actual practices and to ensure that sponsors reported corrective actions to CMS in a timely manner. The OIG recommended that CMS audit one-third of all Part D sponsors and update its SOP; CMS generally concurred with the recommendations.
