Like traffic cops, compliance managers make sure their employers understand and conform to all relevant industry laws and regulations. As a healthcare provider, there are multiple laws and regulations you must address. For instance, if you take credit card information for payment, you are obligated to comply with Payment Card Industry, Data Security Standards. DHHS has mandated that HIPAA privacy and security standards be adopted and Meaningful Use objectives Stage 2 are in effect that include compliance to health information exchanges’ (HIEs) standards and value-based purchasing (VBP). Other compliance standards may affect you, like SARBOX, if you’re a publicly owned company that handles its own accounting data.
A compliance manager will be responsible for planning and managing compliance to all regulatory requirements by identifying risks, arranging for employee training, tracking regulatory developments, and coordinating and implementing company policies. Without a compliance manager, the risk of non-compliance increases, which raises the financial risk to your company. So, who’s watching the shop at your company?
To learn more about the compliance manager’s role, go here.
Orion Group Managed Services offers HIPAA, PCI and Meaningful Use consulting support. Set up a consultation today with one of our experts to discuss your company’s needs.