A record-retention program can protect group practices

Group practices can benefit from having a systematic record-retention program that includes a formal record-retention policy. While state and Federal laws require the retention of some types of business records, many other records should be retained in the event of an audit or litigation. Having a record-retention program in place can help group practices respond cost-effectively and efficiently when called upon to produce documentation. The record-retention program should include a policy that stipulates not only which records should be kept but also for how long. Group practices should retain records relating to patient care, taxes, payroll, and contracts.