Time is Money
“They” say that time is money. Chief Operating Officers may say training costs too much money. Compliance Officers say training saves money. In the end, training time may be costly but it will save the company from having to spend money paying fines or being sanctioned for non-compliant activities. Now, ask yourself, have you done a good job training your staff in 2016 or is your training more like the cartoon above?
Now is the time to review your 2016 training for its effectiveness and make sure you are budgeting and preparing for effective training in 2017.
We all know that one of the core components of an effective compliance program is training. Training consists of well thought out plans for conveying to your staff the overall message of compliance and its key role in your company. In healthcare, it also must contain certain healthcare specific fraud and abuse topics so that staff are reminded of what fraud looks like, how and to whom they can report any concerns (hotline).
Benefits of Compliance Training
In addition to the basics of fraud, waste and abuse, training has other benefits, too. For one, it shows both your staff and regulators that your organization is serious about compliance. Second, it lays out the groundwork to show your staff how to stay compliant by doing the right thing and third, it highlights what the financial and criminal consequences of non-compliance may be for the individual and/or company.
People want to do the right thing-especially in healthcare. Therefore, providing compliance training will give them the foundation of compliance, comfort that you and the organization care and confidence that they know how to do their job in a compliant manner.
Donna Thiel, former Chief Compliance Officer and now the Director of the ProviderTrust Compliance Integrity division, said, “Compliance training is the one of the keys to a Compliance Officer getting a good night’s sleep. If an employee receives comprehensive compliance training they will understand expectations and feel comfortable reporting any potential violations.”
Written by Michael Rosen, ESQ
ProviderTrust Co-Founder, firstname.lastname@example.org
Michael brings over 20 years of experience founding and leading risk mitigation businesses, receiving numerous accolades such as: Inc Magazine’s Inc 500 Award and Nashville Chamber of Commerce Small Business of the Year
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