Which of the following is a key component of an IRO audit?

A key component of an Independent Review Organization (IRO) audit is the annual compliance performance assessment. This assessment serves to evaluate the organization's adherence to established standards, regulations, and compliance programs. It is crucial for identifying areas of weakness in compliance processes, ensuring that the organization meets regulatory requirements, and maintaining integrity in billing and coding practices.

The emphasis on regular assessments helps organizations proactively address potential non-compliance issues before they escalate, ultimately aiding in the improvement of quality of care and reducing legal risks. This component is essential because it not only focuses on compliance but also helps in benchmarking performance against industry standards and best practices.

In contrast, while other aspects such as marketing practices, patient satisfaction, and administrative costs may provide valuable information about an organization's overall operations, they don’t directly relate to the core function of auditing compliance in the context of an IRO audit. These elements are typically assessed through different means and serve various purposes outside the strict framework of compliance auditing.