Mistakes can happen to anyone and at any time, but in healthcare, human lives, health and safety are directly at risk. Beyond clinical errors, such as misdiagnoses, wrong treatments or accidents, there are adverse events that are equally harmful to patients and healthcare providers alike, including fraud, information security breaches, kickbacks and bribes. Financial losses due to healthcare fraud are estimated to range from $70 billion to a staggering $234 billion a year. In order to mitigate risk and maintain a truly effective compliance program, moving beyond “paper compliance”, you need to establish a consistent process for identifying and resolving adverse incidents across your enterprise.
Federal and state governments and regulatory agencies have introduced a steadily growing stream of regulations to protect patients and communities from adverse incidents, driving healthcare providers to implement regular audits, enterprise-wide compliance control frameworks and on-going risk mitigation strategies. Yet when mistakes happen and deviations do occur, it is critical to be able to identify and resolve such incidents in real time, as well as gain sufficient insight to prevent reoccurrence in the future.
Our incident and issue tracking solution establishes a consistent workflow for managing incidents from start to finish across your enterprise, regardless of the complexity and variety of incidents. Use it to easily consolidate all channels of information, reducing errors and redundancy while allowing management to gain top-level, real-time visibility into incidents, gleaning the insights necessary to prevent reoccurrence. Proactively address the intense regulatory scrutiny for adherence to HIPAA, PSQIA and FCPA to reduce both the monetary risk of fines and remediation and the reputational risk associated with non-compliance.
When supported by robust risk, compliance and audit processes and technology, successful incident and issue tracking can mean the difference between the success and failure of your GRC strategy.