Mar 26

7 elements of an effective compliance plan

The Office of Inspector General (OIG) has recommended the following seven elements of an effective compliance plan. This applies to all healthcare entities. Although these elements are well known, how many of them are currently implemented within your physician medical practice?

– Designation of a chief compliance officer and implementation of a compliance committee;

– Implementation of compliance policies and procedures, including standards of conduct;

– Have open lines of communication;

– Conduct training and education:

– Respond to detected offenses;

– Implement internal monitoring and auditing; and

– Have enforcement and disciplinary standards.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →