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Root Cause Analysis: The Vital Ingredient In Today’s Recovery Audit
Getting to the root of the problem. It’s an age-old value recited again and again by professional trouble-shooters of every kind. From plumbers to engineers, detectives to accountants, conducting analysis to understand the underlying reason why something went wrong – and how to stop it from happening again – is fundamental to success.
The same holds true for recovery audits. They’ve become a go-to mechanism for recouping losses that happen due to erroneous payments and invoice errors. But useful as they are for getting back lost money, wouldn’t it be better if the money never left at all?
With five decades of practice, recovery auditors can uncover hidden factors that create conditions where profit leakage can recur and spread.
By applying proven methodology, data analysis, and the expertise only decades of experience can deliver – these factors can be pinpointed and dealt with. The growing ability to stop errors and loss before they happen is changing recovery audit from a retrospective to a proactive exercise. Root cause analysis is fundamental to the shift.