Finance and Banking Operations (FBO)
The FBO Unit is responsible for:
- Overseeing the management of and monitor the financial and banking functions of the fiscal agent to ensure appropriate payment ($20+ billion) of Medicaid claims.
- Coordinating all federal IRS tax reporting efforts for payments made to providers.
- Oversight of the retroactive rate adjustment process to ensure appropriate payment to facilities.
- Assisting in the development of audit programs relating to fiscal agent operations and review audit engagements, prepare findings and review responses to findings.
- Conducting routine or special independent audits of all processes/parties involved in Medicaid claims processed by the fiscal agent to determine compliance with Medicaid program policy.
- Executing and managing all contract amendments for the Medicaid fiscal agent.
- Fiscal Agent Contract: ME170
Additional Reference Information