Avoid potential payment withholdings. If Healthcare Payers file 1099s with incorrect or incomplete information, they are fined by the IRS. Next, they become legally obligated to withhold a portion of payments to the healthcare providers who are non-compliant.
Who Are We
W-9 Corrections is a BASELoad company. For over 25 years, BASELoad has helped Healthcare Payers radically reduce costs and improve processes through services, tools, and programs such as W-9 Corrections. We identify inaccuracies and correct the data — that makes the healthcare payer system work and healthcare providers happy. We are unparalleled in our collected data, systems, processes, and commitment to healthcare payer data solutions.
- If W-9 errors are not fixed, insurance companies are legally required to withhold on payments made to healthcare providers.
- The IRS may penalize healthcare providers $50 per form for failing to provide correct name and TIN combinations.
- We ensure that healthcare payers avoid penalties and healthcare providers avoid payment withholdings.
W-9 Corrections
Incorrect or incomplete W-9s are common. It’s often that TINs do not match company names, or that addresses are missing information. These errors can be due to changing databases, transcription errors, name changes, or countless other causes.
It is the healthcare provider’s responsibility to provide missing information and correct mismatches in the data available to payers. If they do not correct their W-9s with payers, then these insurance companies are legally required to withhold a portion of payments.
W-9 Corrections can help you get your information corrected in the data used by your payers, so you can prevent withholdings on any future disbursements. Just submit your W-9 here on our website or call us if you have any questions or concerns.