Financial Risk Assessment Tool

Login to Tool

Karo Data Management has developed a financial risk assessment tool to enable PHOs to easily assess both their and their practices financial risk from a Ministry of Health PHO Audit. The main driver for the development of this tool is the Audit and Compliance Team's new policy of sampling all practices at a level of +/-5% statistical significance. This enables Audit and compliance to justify extrapolating the findings of the audit out to the full register. See below for more details.

We have piloted this tool with one PHO and they have found it invaluable in identifying which practices need some assistance to minimise their potential liability from an audit (one practice was at risk of a $50,000 penalty!)

The steps involved in the Audit are as follows:

• contact Karo (patricia@karo.co.nz or Phone 04 384-1177) for a random sample of 100 patients from the practice
• send the list to practice manager and ask for enrolment forms to be located
• have an independent person go to the practice and complete the online data entry screen for each of the 100 patients
• once data entry is complete run the online reports to find out what your risk is

A Demo version is available for you to look at:     Demo Login

Download Instructions (Word Doc)
Download Instructions (PDF File)

More Details about Audit and Compliance Policy of Extrapolation