Authorization Number : 855-1035
Agency Series No. : FRPT-75
Status : Active
Agency Web Link :
Agency : BWC
Confidential Description : Information furnished to BWC by an MCO to comply with BWC performance and financial auditing requirements, including the SOC1 reports and independently auditing requirements are for the exclusive use and information of BWC in the discharge of its official duties, and are exempt from disclosure under the public records laws 4121.44 (D) of the Ohio Revised Code.
Division : BWCFDAD
Vital Description :
Section : BWCFDADFRTP
Record Title : Managed Care Organization (MCO) SOC1 Reports and independently audited financial statements
Revision : 2
Record Description : The Managed Care Organization (MCO) SOC1 (Service Organization Control 1 report is written documentation of the internal controls that are likely to be relevant to an audit of a customer’s financial statements) reports are completed by independent auditors of the MCO’s and are submitted electronically through the MCO portal. SOC1 reports provide assurance to the BWC and external auditors concerning the MCO’s IT controls for the provider accounts. BWC evaluates the SOC1 reports to assess the risk of partnering with the MCOs. BWC evaluates the independently audited financial statements to ensure the financial solvency of the MCO’s.