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The role of the compliance professional in healthcare transactions

Timothy E. Monaghan (tmonaghan@shutts.com) is a Partner in the West Palm Beach, FL, office of Shutts & Bowen LLP.

Traditionally, compliance has focused on preventing bad things from happening. Before we talked about compliance, we talked about risk management, which had the same objective. An example of risk management is identifying bad physicians—those with too many bad outcomes—and restricting their activities, requiring continuing medical education or proctors, or otherwise trying to prevent bad outcomes.

For compliance professionals, as you know, the bad things to prevent include adverse audits and recoupments. However, preventing a loss will never be as interesting to a CEO as making a profit or, for the nonprofit practice, having a margin after expenses. In either case, black ink is better than red ink. It’s about survival.

I believe this is why compliance officers are usually not found in the C-suite.

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