Name of the Law.docx - Name of the Law The Anti-Kickback...

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Name of the Law The Anti-Kickback Statute (AKS) was passed in 1972 with the goal of safeguarding federal healthcare programs against abuse and fraud. The AKS is a federal criminal statute found in the United States Code, with the authorized title of 42 U.S.C. 1320a-7b. The AKS is similar to the Stark legislation, but it goes farther and prohibits persons from soliciting, paying, offering, or receiving any payment, monetary or otherwise, to promote business in any of the affiliate's federal program participants. Management’s Financial Responsibilities Even the smallest organization cannot avoid relying on well-organized financial management principles. Due to the existing high levels of healthcare costs in the country, a well-organized principle financial management is critical to the system's long-term viability. The overall management of federal health- care services should now devise a method of keeping costs acceptable, or else the patient's insurance coverage will continue to be the most vulnerable to the pressures of an unbalanced system that demands larger totals. The Affordable Care Act (ACA) is now tightening the constraints on what healthcare providers can charge. The healthcare industry is now more than ever in desperate need of efficient financial management (Hawkins, 2018). Under the AKS, healthcare organizations must adhere to a number of ethical obligations. The acceptance of illicit remunerations and the distribution of illegal compensation are two main tasks. “Whoever knowledgeably and willingly solicits or receives any remuneration is prohibited from accepting any remuneration, directly or indirectly, explicitly or surreptitiously, in cash or in kind (including any kickback, bribe, or rebate)” according to section (b) paragraph (1), (Anti-Kickback Statute, 2010). In paragraph (1)

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