Healthcare and other industries are facing a complex regulatory landscape with increasing scrutiny on compliance. Today’s compliance is more rigid than ever before, requiring companies to develop risk-focused, operationalized compliance strategies.
In a national publication, Compliance Week, PYA Manager Erin Walker breaks down reactive vs proactive compliance strategies, federal compliance expectations, and how operations impact and are impacted by compliance.
“Federal enforcement trends consistently reinforce the expectation that compliance programs function as active, evolving risk management frameworks,” Walker says in the article. Conversely, a reactive approach to compliance occurs when a compliance program is not operationalized, which can lead to regulatory enforcement actions and penalties.
Walker explains that a broad compliance program impacts more than healthcare services; it also should be used to manage risk in all core business functions, including revenue. Overall, revenue integrity focuses on and is impacted by operational and compliance risk, she says.
For long-term success, “organizations that invest in proactive and integrated compliance programs, supported by ongoing risk assessment and operational support, are better positioned to reduce both regulatory and financial exposure,” Walker says.
Compliance Week is a leading information service providing news, analysis, and resources on corporate governance, risk, and compliance.
For more than 40 years, PYA has provided expert guidance to our healthcare clients in developing comprehensive compliance programs that withstand regulatory scrutiny.
