An article written by PYA Atlanta Principal Valerie Rock and Senior Manager Kristen Lilly Davidson is featured in the April 2023 issue of Compliance Today. The national publication is produced by the Health Care Compliance Association (HCCA) in association with the Society of Corporate Compliance and Ethics (SCCE) to provide insights on healthcare compliance issues.
Rock and Davidson’s article, “Building a strong physician practice compliance infrastructure: Lessons learned from physician practice diligence,” examines the shift in the healthcare market due to investment by private equity firms and what can be learned from the diligence process and the role of compliance.
According to Rock and Davidson in the article, “With PE firms solidifying their space in the healthcare industry, they are no longer viewed or considered as ‘passive investors’; thus, it is difficult to claim a lack of familiarity with regulatory mandates governing that industry. As a result, PE firms have come to appreciate the potential historical risk assumed when investing in physician practices and better understand the importance of compliance’s role in the deal.”
The authors provide examples of qui tam and False Claims Act cases and what we can learn from these lawsuits. They also offer insights into areas of risk, especially in the revenue cycle and operational processes, and advise about the value of assessing a practice and its compliance risks; using data analytics to monitor compliance concerns; and implementing internal controls.
Read the full article about physician practice compliance and diligence on HCCA’s online platform, COSMOS, or access a PDF of the article. Copyright 2023 Compliance Today, a publication of the Health Care Compliance Association (HCCA).
If you have questions about business compliance services or compliance program implementation, assessment, and support, contact Valerie Rock or Kristen Lilly Davidson at (800) 270-9629 or at the e-mails below.
