How Do I Update My Compliance Risk Assessment?

Compliance Risk Assessment is very important in healthcare practice. When used properly, they can save the entity from fines, trouble, and consequences.

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While nearly everyone is familiar with the HIPAA Risk Assessment, many practices have not completed a full Compliance Risk Assessment.

Compliance Risk Assessment is the process of a healthcare entity to determine what risks exist, evaluate potential risks, and focus resources on addressing the most significant risks.

Compliance Risk Assessment helps identify weaknesses, shows your employees that you care about their concerns and is proactive, and reduces the potential for government fines and penalties. They can even help prevent whistleblower suits.

Healthcare entities should prioritize this risk assessment, as the government now expects. The Department of Justice (“DOJ”) has shared its belief that periodic risk assessments are starting point of a well-designed compliance program.

The compliance plan must be updated regularly and regularly. Your staff must know and be involved with your compliance program.

So how do you conduct or update a Compliance Risk Assessment?

Work with your health attorney to:

  • Risk identification;
  • Assessing risks for likelihood and potential impact;
  • Create a work plan that will likely include:
    • audit,
    • monitoring,
    • education,
    • updating of policies and procedures, and
    • implementation of necessary technological measures; And
  • Continuously monitor compliance and compliance risk.

It is very important that your adherence plan well used, familiar to all staffAnd involve your entire office.

If a government official comes to your practice, will all your employees be able to discuss your comprehensive compliance plan?

If not, or if you need assistance with compliance, billing or auditing, contact Rickard & Associates today!

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