An absence of documentation to support the codes assigned, not knowing what codes must be reported separately and an over-reliance on the electronic health record (EHR) to assign the right code. These are just a few of the reasons why physicians see denials. What’s ultimately at stake? Revenue and profitability at a time when payer scrutiny has reached epic proportions.
Payers’ ability to analyze large volumes of claims data means they’re able to easily identify any and all reasons to initiate an audit as well as delay or deny payment, says Kathleen Mueller, RN, CPC...
New Residential Investment Corporation and Ocwen Financial Corporation have announced the companies have signed definitive agreements for the transfer of Ocwen’s interest in mortgage servicing rights (MSRs) and subservicing relating to approximately $110 billion of non-agency MSRs. Upon the transfer of the MSRs to New Residential, the subservicing agreement will replace certain existing agreements between New Residential and Ocwen.
Under the MSR transfer agreement, Ocwen will transfer to New Residential, a wholly-owned subsidiary of NRZ, approximately $110 billion o...
The borough of Sharon Hill is suing Wells Fargo Bank and Nationstar Mortgage for allegedly discriminatory lending practices it says have damaged lower-income and minority communities in Delaware County.
In its second amended complaint filed June 23 in Philadelphia federal court, Sharon Hill alleges the lenders have a “longstanding, unbroken policy” of steering minority borrowers into discriminatory mortgage loans that have had a disparate impact on poorer communities.
When a lawyer for Gary Sinderbrand, a former Wells Fargo employee, subpoenaed the bank as part of a defamation lawsuit against a bank employee, he and Mr. Sinderbrand expected to receive a selection of emails and documents related to the case.
But what landed in Mr. Sinderbrand’s hands on July 8 went far beyond what his lawyer had asked for: Wells Fargo had turned over — by accident, according to the bank’s lawyer — a vast trove of confidential information about tens of thousands of the bank’s wealthiest clients.
The 1.4 gigabytes of files that Wells Fargo’s lawyer s...
The Consumer Financial Protection Bureau on Thursday urged a Florida federal court to reject mortgage servicer Ocwen Financial Corp.’s constitutional challenge to the bureau’s structure, saying that the company was attacking a “strawman” to get out from a lawsuit over problematic servicing practices.
In a brief filed in federal district court in West Palm Beach, the CFPB claimed that Ocwen was incorrect in arguing that the bureau’s single director structure, which only allows the president to fire the director for cause, was a violation of the Constitution’s sepa...
Embattled servicer Ocwen Financial will fork over up to $56 million in cash and shares to settle a class action lawsuit over “allegations in connection with” the company restating its 2013 and 2014 earnings, and a New York state investigation that forced the resignation of its founder, according to a regulatory filing.
The lawsuit was filed after Ocwen misstated its net income for four quarters in a row during 2013 and 2014 due to a flaw in its accounting system, according to a HousingWire report.
According to a filing Ocwen made with the Securities and Exchange...
Wells Fargo is being ordered to reinstate a branch manager it fired in 2011 after the employee tried to blow the whistle on the bank's growing sales practices scandal.
The Department of Labor on Friday also ordered Wells Fargo to pay $577,500 in back wages.
Wells Fargo fired a California-based branch manager in September 2011 when the manager raised concerns that employees were opening accounts without customers' knowledge or consent. What the manager saw and reported eventually became an all-consuming scandal for the San Francisco-based bank, which admitted last yea...
What you will be discussing about big data in a year will be very different from today's conversations.
We’ve recently seen data science shift markedly from a peripheral capability to a core function, with larger teams tackling increasingly complex analytics problems. We’ve watched rapid advances in data science platforms and their big implications for data and analytics teams. But what surprises are in store in the realm of data, analytics and machine learning going forward?
What new developments in data science will we be talking about in a year?
Members in Congress and the White House have been very blunt about their desire to gut the Consumer Financial Protection Bureau (CFPB).
The agency was launched in 2011 in the aftermath of the financial crisis as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The goal was to protect consumers from deceptive or misleading practices in the financial industry.
So what would you miss if the CFPB suddenly disappeared?
In short, a lot, including a just-issued rule that would prevent financial companies from using arbitration clauses to prevent people...
TRENTON -- Gov. Chris Christie's battle with Horizon Blue Cross Blue Shield of New Jersey to give up $300 million of its reserves to the state intensified Wednesday when the governor vilified the insurer for getting slapped with $16 million in fines from the state over a period of nine months.
In a hastily called news conference, Christie accused Horizon of having "brazenly failed its members" covered by Medicaid and renewed his push for legislation he argued would add more accountability and transparency within the insurer.