Which of the following is an essential component of RADV audit preparation?

Maintaining up-to-date clinical documentation is crucial for RADV audit preparation because accurate and comprehensive clinical documentation serves as the foundation for validating risk adjustment data. This documentation provides the necessary evidence to support the diagnoses that have been submitted for risk adjustment purposes. When clinical records are current and reflect the patient's actual health status, it enhances the integrity of data submissions and supports compliance during audits.

In the context of RADV, a thorough review of clinical documentation ensures that all relevant diagnoses are captured and substantiated with appropriate records. This not only helps in demonstrating the accuracy of the risk scores assigned but also prepares the organization for any potential inquiries or reviews by auditors.

While collecting patient referrals, focusing on financial data, and reviewing external audits can be relevant in broader healthcare management and compliance contexts, they do not directly address the specific necessities of preparing for a RADV audit. The key focus in a RADV audit is on clinical accuracy and documentation support rather than these other elements.