What is “Compliance”?
Compliance governs the organizational culture, ethics, and best practices in response to the many federal and state laws and regulations that apply to the health care industry. According to the OIG there are seven elements to a Compliance Program that outline the principles an organization follows, and guides them in how to effectively prevent and correct wrongdoings.
What is a Compliance Program, and why do I need one?
Navigating the twists and turns in complying with complex, highly regulated, and ever-changing laws and regulations can be complicated. A Compliance Program and related Work Plan direct the development and implementation of right-sized and effective measures, incentives, and corrective actions that promote Compliance throughout your organization.
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Do you provide services to patients insured by federal- or state-funded insurance plans?
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If so, you are required to have a Compliance Program; and are expected to know the rules and to operate in a compliant manner. A well-developed Compliance Program and Work Plan will mitigate your risk if the unthinkable happens and you're subject to an investigation, as regulators take proactive Compliance efforts into consideration.
No matter the size of your organization, the consequences of not having a Compliance Program carry the same potential for risk and impact on finances and reputation. But don't let that keep you up at night, BAC10 Solutions can help you develop a Compliance Program and Work Plan that is a "best fit" for your organization's culture and goals.
What is a Compliance Risk Assessment and why do I need one?
Identifying and evaluating the internal and external risk factors that may impact your organization is a vital component of your Compliance journey. A Compliance Risk Assessment will uncover current and potential issues and gaps, and will enable your organization to map out and implement key Compliance Program improvements to reduce your risk.
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Organizations want Compliance activities to complement their culture but are often unsure where to start or need help fine-tuning their current approach. BAC10 Solutions can help by identifying your risks and creating a new or assessing your current Compliance Program, and delivering recommendations that close gaps, promote adherence to industry standards, and support organizational behavior changes.
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In the end, you'll have a plan that provides effective outcomes and ensures that the fundamental elements of Compliance are in place to measure the impact of, awareness of, and engagement with your Compliance Program.
