The Ethicsverse: Healthcare Edition

This episode of The Ethicsverse explored the evolution of healthcare compliance roles from traditional “compliance officers” to strategic “compliance executives.” Key themes included the importance of business acumen in compliance, strategic approaches to auditing and risk management, and the value of cross-functional expertise.

We gained critical insights into the unique challenges of healthcare professionals with Ross Ronan, a seasoned compliance executive with a unique blend of nursing and legal backgrounds. Drawing from his multifaceted career, Ronan offered invaluable insights on strategic auditing, interdepartmental collaboration, and the critical importance of business acumen in modern compliance roles.

By adopting a strategic mindset, fostering collaboration, and aligning compliance efforts with organizational goals, compliance professionals can elevate their impact and drive meaningful change within healthcare organizations. The future of compliance lies in the hands of those who can effectively balance regulatory requirements with business objectives, ultimately contributing to the overall success and integrity of their institutions.

Compliance Executive Mindset

• The shift from “compliance officer” to “compliance executive” requires a deep understanding of the business and aligning compliance strategies with organizational goals.
• By cultivating a strategic partner mentality, compliance professionals can increase their influence across the organization.
• This mindset shift emphasizes the importance of building relationships & demonstrating value by solving problems and enabling business success within regulatory boundaries.

Strategic Auditing Approach

• This method prioritizes high-risk, high-utilization areas and adjusts audit frequency based on risk levels and previous audit results.
• By providing meaningful, actionable information to improve operations, compliance executives can shift the focus from “gotcha” moments to prevention, detection, and mitigation of risks.
• This approach not only enhances the effectiveness of the compliance program but also demonstrates its value to the organization.

Collaborative Problem-Solving

• Positioning compliance as a facilitator and enabler rather than a roadblock is crucial for fostering a culture of compliance throughout the organization.
• This involves offering assistance in drafting policies and procedures for other departments and helping operational teams navigate regulatory challenges.
• By demonstrating how compliance adds value to the organization’s overall mission, compliance executives can encourage all departments to actively participate in risk management and compliance efforts.

Resource Optimization

• By focusing on efficient processes and leveraging external resources, effective resource optimization can eliminate the need for additional manpower.
• Compliance executives should advocate for necessary resources by tying them directly to business outcomes and demonstrate stewardship of company resources.
• By emphasizing impact and results over the size of the compliance department, professionals can create lean, effective programs that deliver value to the organization while maintaining regulatory adherence.

Regulatory Interpretation & Application

• Developing the confidence to interpret regulations in the context of your organization is crucial for effective compliance management.
• Staying current with regulatory changes and their potential impact on the organization is essential for maintaining an effective and adaptable compliance program.
• This involves engaging regulators in discussions about practical application of guidelines and balancing strict adherence to rules with common-sense solutions that achieve compliance goals. Compliance executives must be prepared to justify and defend compliance decisions based on risk assessment and business needs.

Cross-Functional Expertise

• Understanding how compliance intersects with other business functions like HR and finance allows for more comprehensive problem-solving and decision-making.
• Cultivating knowledge beyond compliance, including operations and risk management, enhances a compliance executive’s effectiveness.
• This cross-functional expertise not only improves the quality of compliance efforts but also increases the credibility and influence of compliance professionals within the organization.

Continuous Learning and Development

• Pursuing relevant certifications and engaging in ongoing education demonstrates commitment to the profession and ensures compliance executives stay current with industry trends and best practices.
• Seeking mentorship and networking opportunities within the compliance community can provide valuable insights and support.
• This commitment to continuous learning enhances individual capabilities and elevates the effectiveness and reputability of the compliance program.

Effective Communication & Influence

• Tailoring communication styles to different stakeholders within the organization and using data and metrics to support compliance recommendations enhances credibility and decision-making.
• Building influence by consistently delivering value and solving business problems helps establish compliance as a strategic partner.
• Cultivating executive presence further enhances the ability to influence at senior leadership levels, ensuring that compliance considerations are integrated into high-level organizational decisions.