Did you cringe?
Did you stop reading?
Don’t click off the screen just yet! As a practice owner or manager, I know building or monitoring a compliance plan, on top of running a busy practice, can become a massive undertaking. You have probably read numerous articles, listened to countless presentations, and received visits from consultants demanding the importance of a compliance plan.
Yet, you still struggle with the motivation to start or maintain one.
What if I shared that you could delegate compliance responsibilities to someone else? What if I gave you an easy plan that will have the entire practice slow-clapping after completion?
In this series, allow me to introduce the Office of Inspector General (OIG) thoughts on compliance plans, team strategy suggestions, and the “Three E’s” to reinvent your compliance team.
The federal and state government are strategic regarding the role compliance plays in your practice. Excessive errors will red-flag the government, and when they show up requesting an audit, it’s best to have a compliance plan to disprove their claims.
Unfortunately, they don’t want to hear excuses, such as:
“It’s hard building an effective program.”
“The dog ate my compliance plan.”
“We don’t have enough resources.”
“No time to create one.”
They stick by their regulations…. plain and simple. If you don’t believe me, check out the OIG website, which highlights individuals and organizations that landed on the exclusion list, received harsh penalties, and, in some cases, jail time. Even though they are suffering the consequences, the good news is you can learn from their mistakes and build a successful compliance plan immediately.
Before initiating, it is critical you recognize your key team players that will handle the day-to-day functions of the compliance program. The OIG suggests you:
1) Hire a compliance officer;
2) Split tasks among employees;
3) Designate one person from the practice to correspond with an outsourced compliance officer or consultant.
As you can see, the OIG acknowledges that practices may not have the funds to hire a compliance officer or consultant, which is why they suggest utilizing current employees to build an effective program.
My thoughts: Use the OIG suggestions regarding split tasks, research how you want your team structured, review employee feedback, and take or assign compliance courses to increase team knowledge.
Your goal is to build a compliance team, where everyone works together to protect the practice, rather than suffering from burnout completing it alone.
**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.
Click here for the next tip in the series.