New York, NY, February 15, 2015 – Paracon Group, Inc., a business transformation firm that uses knowledge automation and advanced analytics powered by Expertool, announced additions to its growing Employee Benefit Audit and Compliance Solutions.
Paracon's Risk Advisory approach, based in audit and transparency, focuses on helping you make the most strategic and evidenced based decisions for one of your largest expenditures. Many auditor and employee benefit professionals can benefit from this holistic approach. Most competing firms focus on limited scope commodity based claim audit offerings that miss the key elements of what drives higher costs and are very limited in their scope.
How does Paracon differ?
· Most companies assume that the Form 5500 audit that their external accountant performs is enough. Those audits don’t focus on what is truly at risk – the financial transactions between the TPA and provider. Paracon looks at both sides of the transaction to ensure that each and every claim is properly paid and monies that leave the plan are paid to the providers.
· Court cases outlining ERISA violations surrounding improper payments, recoupments, undisclosed markups that go unchecked by traditional audits. Paracon’s audit identifies these errors and helps to recover any monies due to the plan.
· Big shocker – hospital bills contain errors. Everyone “knows” this but a Prepayment Compliance Review actually reviews these bills BEFORE they are paid to ensure what you are paying for is actually what was delivered and proper. It’s a continuous ongoing audit of your healthcare spend.
· How do you know your claims are adjudicated properly? Our Plan Compliance Audit reviews every claim over the past 2 years to identify every single error. EXPERTOOL, our proprietary artificially intelligent software, and our team of experts use discovery analytics, data science and over 20 years of expertise to ensure your claims are paid according to your plan documents.
Paracon Group, Inc., founded in 2010 and headquartered in New York with additional operations in Illinois, Florida, Indiana, Kentucky and Connecticut, provides next generation business intelligence, technology and expertise to numerous industries and consultancies across the United States. Knowledge Engineering services are powered by Expertool, an in memory analytics and universal modeling platform coupled with innovative knowledge automation mapping methodology and technology. Forensic Audit services focus on traditional forensic accounting services and specialized health plan audits using the full power of ERISA and the ACA. Project management staffing and consulting expertise services provide co-sourcing or outsourcing for temporary or full-time staffing needs. See more information at www.paracongroup.com.