How Private Sector Best Practices Can Save Taxpayer Money - Slide 6

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The administration already recognizes the magnitude of this issue. In Executive Order on Improper Payments (Nov 2009), the President states that “my Administration is expanding the use of ‘Payment Recapture Audits,’ which have proven to be effective mechanisms for detecting and recapturing payment errors. . . One approach that has worked effectively is using professional and specialized auditors on a contingency basis, with their compensation tied to the identification of misspent funds.”

The federal government issues nearly $3 trillion annually in payments in one form or another (e.g., federal grants, food stamps, Medicare payments, tax refunds). GAO estimates that $72 billion was lost to improper payments in fiscal year 2008 alone. OMB estimates the number was $98 billion in 2009 ($54 billion in Medicaid and Medicare).

OMB issued guidance this spring to departments asking that they develop plans to reduce these improper payments by $20 billion. Industry regularly conducts recovery audits of large-scale transactions; this could be fraud or mistakes, or an unanticipated shift in demand. According to the Technology CEO council, new analytical techniques can increase the identification rate to 40 percent.

Cost savings estimate: An incremental $200 billion over the next 10 years.

According to the Technology CEO Council, America’s growing national debt is undermining our global competitiveness. How we choose to confront and address this challenge will determine our future environment for growth and innovation. They suggest that by adopting commercially proven best practices to maximize operational productivity, the government can save over $1 trillion by 2020, while enhancing the services it provides citizens and laying a foundation for future innovation and growth.

This slideshow offers their list of seven specific initiatives where technology-enabled productivity solutions can make a material difference.

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