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What Is the Difference Between a Prospective and a Retrospective

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Essay

What is the difference between a prospective and a retrospective audit?


Definitions:

Reimbursement

To pay back or compensate for money spent, or losses or damages incurred; payment for provider services (from insurance company).

Compensation

Anything given as an equivalent or to make amends; pay.

Insurance Company

A financial institution that provides risk management through the mechanism of insurance contracts, covering various types of risks including health, property, and life.

HIPAA Compliance Officer

A designated individual responsible for overseeing the implementation of HIPAA regulations and ensuring an organization's compliance with patient privacy and security laws.

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