Preemptive Compliance Reviews: A Business Development Strategy
By Justin Frazer
Without a threatening letter from a regulatory agency or an external investigation from a large client, it can be difficult for a healthcare vendor or provider to justify developing a compliance program.
Today’s consensus is that limited financial and human resources would be better served for market growth or another revenue-generating initiative.
However, the sooner a healthcare organization emphasizes operational compliance, the more likely it is to avoid costly issues down the road. Early compliance can also serve as a potential growth opportunity—and even a competitive advantage in a market saturated with vendors and providers.
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This article was originally published in The Journal of America’s Physician Groups Summer 2020.