CORPORATE COMPLIANCE PLAN (read below)

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Ubenpvb12

Health Medical

Description

First, create a company in the healthcare industry. It can be a hospital, physician practice, pharmaceutical manufacturer, laboratory, nursing facility etc. You have been hired by this company as the Compliance Team from the FIU Business Consulting Firm to write a corporate compliance plan. You will then be required to present that plan to the company board of directors and management. This is a publicly traded company. This company will soon be audited and must be able to demonstrate compliance with the regulations and an understanding of its internal risk assessment. Your compliance plan must show regulators and stakeholders that the company has a new vision and internal controls to prevent problems from occurring in the future.

focus the compliance plan on Stark compliance or Anti-kickback compliance or HIPPA compliance or internal risk assessment or a combination of these regulations.

7-10 page Compliance Plan - Double space.

Make sure to briefly address all 7 categories of the required components (see below). Then, depending on the industry that you have chosen and risk factors peculiar to that industry, design your plan to include an in-depth analysis of at least 4-5 specific compliance standards and whatever other action or activities.



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Explanation & Answer

Attached.

Running Head: CORPORATE COMPLIANCE PLAN

Corporate Compliance Plan
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CORPORATE COMPLIANCE PLAN

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Introduction
The Met Hospital strives to ensure that the needs of its patients are duly met. This is through
the provision of care in a way that ensures that each patient’s unique needs have been provided
for. The healthcare provided has been made such that it is affordable to the user and of quality.
While ensuring that these two aspects are duly met, Met Hospital also makes sure to adhere to all
set regulations and standards put in place while still ensuring that the state and federal laws are
adhered to. To show compliance to these regulations and standards, a compliance plan has to be
provided. Met Hospital meets this requirement by having its own compliance plan drawn and
detailed to help the stakeholders and regulators through confirming that indeed the prevention of
problems is top of mind and is entailed in the vision and internal controls of the hospital. This
provides guidance to the hospital and those people working within and without it, on a daily
basis. It is a way to help improve the integrity of the various parties involved.
Compliance Plan components
Written standards of conduct, policies & procedures
Met Hospital has its code of conduct, policies and procedures established which then show the
hospital’s commitment to compliance to the requirements that are both state and federal. All new
associates get a copy of the compliance manual following their hire. Following training,
understanding of the policies and procedures is required (Banks & Banks, 2011).
a. Risk identification
Risk priority assessments are conducted by the Compliance Committee and the Corporate
Compliance Officer. In compliance effort focus, there are high risk areas identified to help guide

CORPORATE COMPLIANCE PLAN

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the hospital. The policies and procedures detail out how to deal with these risks, which are also
include of the standards and policies which follow the laws and regulations set in motion.
Periodical assessment is conducted on the policies with following the recommendations as set in
the Model Compliance Program Guidance for Hospitals, OIG 1998. The Supplemental
Compliance Program Guidance for Hospitals, OIG 2005 also plays a role here. The risks are
false cost reports, upcoding, credit balances, failure to fully understand IT, duplicate billing,
provision of unnecessary medical services, having billing conducted for services not rendered
and issues in admission and discharge. The Federal Anti-Kickback Statute is a prohibition that
warns against payments, either direct or indirect, which are made as a way to reward or induce
provision of federal healthcare.
It also covers the other party that accepts or solicits such payments for provision of federal
healthcare. Under the statute, liability will still hold if the party’s intent is flawed or is for an
illegal purpose even if the market value payment is fair. The fair market value payment does not
make the payment legitimized. The referral sources within a hospital are the physicians who also
undergo scrutiny. This calls for scrutiny of the relationships s...


Anonymous
Excellent resource! Really helped me get the gist of things.

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