Which of the following is identified by CMS as a high-risk area for fraud?

Billing by inappropriate specialties is identified by the Centers for Medicare & Medicaid Services (CMS) as a high-risk area for fraud due to the potential for abuse in the coding and billing processes. When providers bill for services under specialties they do not practice, it can lead to significant discrepancies and fraudulent claims. This could occur if a physician, for example, provides care that does not align with their specialty designation or if services are misrepresented to obtain higher reimbursement rates.

CMS closely monitors billing practices to ensure that claims are legitimate and reflect the actual services rendered by qualified providers. Inappropriate billing not only undermines the integrity of the healthcare system but also has financial implications for Medicare and Medicaid programs. Recognizing this as a high-risk area allows for increased scrutiny and the development of preventive measures to combat fraud.

The other options, while they may present risks in different contexts, do not specifically highlight the same level of concern regarding fraudulent activity as billing by inappropriate specialties does.