Risk Analysis is the process by which integrity concerns are evaluated and prioritized.
This is one of the first steps in building an effective compliance plan and the ideal method for discovering and evaluating an organization's compliance risk areas. The OIG recommends that when creating a compliance plan, the compliance officer, with help from the department managers, takes a "snapshot" of operations from a compliance perspective. The "snapshot" then becomes the baseline for the compliance officer (and the oversight committee) to judge the organization's progress in reduction or eliminating potential areas of vulnerability. Conducting a compliance risk analysis enables the efficient use of compliance resources; justifies the extent of oversight exercised in particular areas; and provides a methodical, measured, and proactive approach to the work of the compliance department. Additionally, government bodies/regulators have indicated that risk assessments are a part of the government’s expectation.
How can Harmony Healthcare International. Inc. (HHI) Help?
Harmony Healthcare International, Inc. (HHI) HealthCARE Specialists assist with Risk Analysis which includes, but is not limited to, the following:
- Perform a Compliance Program Analysis
- Perform a Risk Analysis
- Assist with prioritization of Identified Risk Areas for Auditing & Monitoring
- Assist with Action Plan development identified by Risk Analysis
- Compliance Plan Development