Services: Chart Review

Penstock uncovered $2.5 million in missed recoveries for a 47,000-member Medicare Advantage plan by performing a second-pass audit behind a large national analytics vendor. Deep expertise and detailed claim scrutiny revealed opportunities the first-pass provider overlooked—returning significant value to the plan and its members.

Medical coding errors and flawed audit systems quietly add a “hidden tax” to healthcare—driving higher premiums, increased out-of-pocket costs, and strained provider reimbursements. In this insight, Dr. Robert Haskey explains how medical audits work, why fraud, waste and abuse remain so costly, and how outdated, opaque audit models fail to prevent errors at the source. He outlines a better path forward: deeper, clinically grounded audits that focus on root-cause prevention, provider education, and smarter use of human expertise and technology to make payment accuracy a shared responsibility across the healthcare system.

Penstock has been ranked No. 353 on the 2025 Inc. 5000 list, placing the company among the top 50 fastest-growing healthcare and medical organizations nationwide. This recognition highlights Penstock’s exceptional growth, commitment to innovation, and role as a trusted partner helping health plans achieve stronger accuracy, service, and financial performance.