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Corporate Compliance Software Solution and Compliance Tools |
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Recent Corporate Integrity Agreements (CIAs) from the Office of Inspector General of the Department of Health and Human Services (OIG) have included unique obligations for life sciences and healthcare organizations – such as holding Board of Directors and senior management accountable for commercial compliance, corporate integrity and ethics. As evident in recent pharmaceutical and medical device company settlements, the scope and complexity of CIAs has been increasing and now includes reviews performed by Independent Review Organizations (IROs).To support these requirements, compliance officers are contemplating how compliance tools can be used to streamline corporate compliance programs.
MetricStream provides a comprehensive corporate compliance software solution for compliance officers operating under government enforcement or those managing compliance programs at levels expected by the OIG to institute reliable programs and systems to enable oversight of corporate compliance program effectiveness, drive accountability through certifications and implement controls around health care professional interactions. Moreover, the integrated compliance solution delivers powerful tools to identify compliance risks and mitigate them to avoid business disruption, strained relationships with regulators and the possibility of fines and other liabilities.
MetricStream’s corporate compliance solution is designed enable life sciences and healthcare organizations to prepare for the increased government scrutiny by:
- Streamlining policy communication, acceptance, training
- Simplifying multi-level certifications for accountability
- Identifying and assessing compliance risks and controls
- Ensuring ongoing auditing, monitoring, assessments
- Improving compliance oversight with better reporting
- Accelerating investigations and action planning
MetricStream delivers an integrated CIA Compliance Solution to help Chief Compliance Officers (CCOs) establish a centralized policy and procedure repository for the entire organization and accurately map compliance requirements based on federal and state requirements as well as product lines.
Advanced capabilities like risk assessment methodologies, compliance risk and controls registers, built-in status tracking and reporting, integrated e-learning, remediation and action planning workflows, email-based notifications and escalations and resource and time management allows organizations maintain CIA-readiness and provide easy access to information and reports needed by IRO and the OIG.
Designing and implementing a compliance program based on industry best practices by using MetricStream’s flexible and versatile GRC platform and solution suite allows organizations to meet current OIG mandates as well as keep pace with evolving regulatory compliance requirements of the industry. |
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