Risk Assessment [Healthcare Compliance Tips]

Hire a consultant to perform an annual compliance program risk assessment to measure effectiveness.

As we end our review of SAI Global and Strategic Management’s “2019 Healthcare Compliance Benchmark Report,” their last point states:

• 46% of healthcare organizations have never had independent compliance program evaluation.
• 29% used outside experts to evaluate their program.
• One-half use self-assessment tools and checklists to evaluate program effectiveness.
• 19% do not have any evaluation of their compliance program.

The OIG is big on auditing and monitoring your compliance program.  In fact, they suggest that baseline audits/assessments are performed annually to ensure you have an effective compliance program.

We agree with SAI Global when they state management can’t audit their own program for effectiveness and hiring consultants should be heavily considered in 2020.

Sadly, these results show that we have a long way to go and it’s time to shift our mindset when it comes to auditing and monitoring compliance programs.

Not sure where to start?

Here are a few areas to consider when performing a risk assessment, such as:

• Billing and coding
• Technology (i.e., cybersecurity, EHR)
• Hazard assessments (i.e., OSHA)
• Privacy and safeguards (i.e., HIPAA)

Will you make the shift in 2020?

*Updated 3/10/2020

**The opinions and observations from the group/author are not a promise to exempt your practice from fines and penalties.  Research, modify, and tailor the advice to fit your specialty.