May 18, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced its participation in the 2011 Internal Audit; Anti-Fraud; Compliance & Ethics; Privacy Conference. Hosted by the Blue Cross and Blue Shield Association, the conference will be held on May 16th-19th, 2011 in Lake Buena Vista, Florida. The event will provide a forum for BCBS members to share unique perspectives, exchange best practices, network with peers and gain critical industry insights.
The healthcare and health insurance industry has witnessed sweeping reforms over the past few years. New regulations, such as the Affordable Care Act, have significantly increased the scope of compliance required. New risks, especially in the areas of information security and fraud, are calling for more stringent, collaborative risk mitigating measures.
Faced with these developments, health insurance organizations are striving to strengthen their GRC programs, and establish a risk and compliance focused work culture. The 2011 BCBS Conference will help health insurance providers achieve these objectives through best practices from industry experts and GRC professionals at the event. The conference will delve into a range of topical concerns such as enhancing fraud assessment, protecting information, strengthening audits, and integrating risk management and compliance assurance.
MetricStream will be showcasing its market-leading solutions at the conference. Recognized for their innovation, flexibility and extendibility, MetricStream solutions are used by leading healthcare providers and payers, including some of the largest BCBS licensees and affiliates.
The MetricStream Enterprise GRC Platform and solution suite deliver to Blue Cross and Blue Shield companies a powerful combination of process automation, best-practice workflows, data integration, reporting, analytics and regulatory content. The platform provides a single point of reference to integrate the complete spectrum of compliance requirements, ranging from HIPAA, to NAIC MAR, to other CMS mandates.
Advanced workflow and collaboration features help streamline the management of GRC policies, risks, controls, control objectives and risk mitigation across the enterprise. Thus, companies are able to embed a consistent risk and compliance focused corporate culture.
Given the highly regulated nature of the industry, it is crucial to stay updated on laws, regulations, standards and guidelines, and translate this information into actionable tasks. MetricStream's integration with proprietary content repositories and external information creates a unique environment which ensures quick responsiveness to changes in the market. Powerful dashboards and reporting help monitor the status of compliance, risks and controls in real-time, preventing or detecting threats such as PHI security fraud and abuse. Risk heat maps and scorecards highlight areas of vulnerability, enabling managers to take immediate steps to manage and mitigate these threats.
MetricStream is a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include Procter & Gamble, UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, and NetApp. MetricStream also owns and operates the www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).