Cost Recovery Defined
- Cost Recovery—Cost savings that are either retrospective or prospective in nature and result from the detection of internal or external errors and fraud; industry benchmarking; previously unknown tax advantages; contractual analysis; and contractual or price sheet compliance.
- Profit Recovery – Same as cost recovery above.
- Recovery Audit—The methodical process of reviewing disbursement transactions and related supporting data to identify various opportunities for cost recovery and that often suggest new process improvements and technology to ensure such cost recoveries are minimized or eliminated in the future.
Follow us on these Social Networking sites
