Governance, Risk & Compliance: GRC
Ensuring Compliance with Open Payments: Innovative Solutions from SAI360
Open Payments, mandated by the Affordable Care Act, require certain industries to report payments and other transfers of value to healthcare providers. Open Payments remain a key focal point now for ethics, governance, risk management, and compliance leaders. Namely, the expansion of the Open Payments Data to include other healthcare providers—in addition to physicians—has significantly enhanced the transparency available to your organization and the public. This review of Open Payments data offers a clear view of the payments made to these healthcare professionals, underscoring the accountability and openness in financial interactions within the healthcare sector.
With evolving Open Payment requirements, organizations must have robust technology solutions that ensure compliance and drive broader Governance, Risk, and Compliance (GRC) efficiencies and innovations. By integrating Open Payments data and leveraging comprehensive and customizable solutions, your organization can achieve greater compliance and efficiency.
Four Ways SAI360’s Technology Solutions Drive Innovation for Companies
SAI360 addresses the evolving GRC landscape by enhancing transparency and compliance in line with Open Payments regulations. Our innovative tools streamline GRC processes and help organizations ensure high compliance standards.
Here is a summary of four of our offerings:
Audit Best Practices
At the heart of our offerings is our new Internal Audit Best Practices module. This state-of-the-art tool enables organizations to enhance their risk management strategies. By automating the planning, tracking, and reporting of internal audit tasks, organizations can minimize human error and maximize efficiency. This solution’s easy integration into existing systems ensures fast implementation, as well.
Key takeaway: Enhances internal audit processes crucial for ensuring compliance with Open Payments reporting requirements.
Conflicts of Interest Manager
An additional facet of our solutions suite is our Conflicts of Interest (COI) Manager, now featuring integration with CMS Open Payments Data, which automates the tedious process of disclosing industry payments, thereby significantly improving efficiency. It reduces errors and omissions in disclosures, ensuring compliance with Open Payments requirements. This tool simplifies compliance and fortifies trust and transparency in your organization’s financial dealings.
Key takeaway: Directly integrates with CMS Open Payments data to streamline and ensure accurate reporting of industry payments, central to open payments compliance.
Policy Manager
Furthermore, our Policy Manager now includes new interactive dashboarding capabilities. These dashboards provide deep insights into the performance and compliance of your company’s policies and procedures. This feature ensures your organization remains compliant and operates at peak policy efficiency.
Key takeaway: Supports the management of compliance policies, including those related to Open Payments, ensuring adherence to regulations through interactive dashboarding capabilities.
Task Manager
Finally, our Task Manager is a fully configurable solution designed to manage different kinds of compliance tasks and help organizations develop, allocate, and oversee tasks to ensure accountability. Its versatility ensures no task is overlooked, enhancing accountability across the board. This tool is essential for any organization looking to streamline its compliance processes and ensure complete oversight.
Key takeaway: Facilitates the management of compliance-related tasks, including those pertaining to Open Payments, to maintain organizational accountability and regulatory adherence.
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