Chapter 3: Running an Effective Compliance Program

Printer Friendly, PDF & Email

Educating and Defining the Board's Role

Constant changes within the healthcare industry have created risks and placed governing boards under increasing scrutiny.[4] This makes having compliance officers involved in training governing boards key to reducing risk while improving corporate social responsibility.[5] The Board of Directors is the driving force of the healthcare delivery system. The fiduciary duties of oversight help drive the vision and mission of the organization. It’s those oversight activities that promote an environment of corporate responsibility that protects the healthcare consumers an organization serves. The compliance officer plays a vital role in ensuring the Board and its members have the information necessary to perform their fiduciary duties, including on industry news and standards. Further education and training can be identified by the compliance officer and board following due diligence of the compliance program. Proactive compliance and corrective action measures that support open communication and nonpunitive measures with education and training should lay the foundation for an effective, fiduciary-responsible board.

This document is only available to subscribers. Please log in or purchase access.