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Financial Laws and Regulations

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Submitted By ladonna65
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The False claim act is a law that inflicts liability on an individual or company that takes advantage of governmental programs. With the False Claim Act individuals are able to recover money stolen through fraud (False Claims Overview, 2014). According to the Office of Inspector general in order to qualify for financial incentives a state’s false claim act must:
• Establish liability to the state for false fraudulent claims
• Contain provisions that are at least as effective in rewarding and facilitating qui tam actions for false or fraudulent claims as described in the FCA
• You must contain a requirement for filling an action under seal for 60 days
• Finally you must contain a civil penalty that is not less than the amount of the civil penalty (State False Claim Act Reviews, 2014).
The Health Insurance Portability and Accountability Act (HIPAA) was designed to protect patient privacy. The three objectives that HIPAA was designed to accomplish are:
• Determine the circumstances in which protected patient health information is used and disclosed
• Establish individual rights in regards to protected information
• Ensure that administrative safeguards are adopted to ensure the privacy of patient information
Stark law forbids a physician from making certain referrals for certain designated health service (Physician Self Referral, 2014). Ten specific DHS services are as follows:
• Clinical laboratory services
• Physical Therapy services
• Occupational Therapy services
• Home health Services
• Outpatient prescription drugs
• Durable medical equipment
• Outpatient speech language pathology services
• Radiology
• Prenatal and eternal nutrients
• Inpatient outpatient hospital services
According to Phillips and Cohen Qui Tam is a lawsuit whistleblowers bring under the false claims act (Qui Tam Explained, 2014). This law rewards whistleblowers if their Qui Tam case retrieves funds for the government. The Qui Tam lawsuit helps to prevent fraud such as Medicaid, and Medicare fraud.

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