Compliancy Group's New Tool for Exclusion List Monitoring
Compliancy Group has recently introduced an innovative exclusion list monitoring and verification tool aimed at streamlining the process of employee and vendor sanction screening. This development showcases the company's commitment to enhancing compliance solutions for healthcare providers and businesses across various sectors.
Integration with SureShield for Enhanced Compliance
In collaboration with SureShield, Compliancy Group has successfully integrated their automated sanctions and exclusions software with the compliance platform known as The Guard. This partnership allows users to access a comprehensive compliance management system, ensuring they can efficiently monitor regulatory compliance while simplifying exclusion verification.
The Comprehensive Functionality of the New Tool
The newly launched software is capable of checking lists of employees and vendors against an impressive total of 59 exclusion lists, including high-profile sources like the OIG LEIE, SAM, and FDA. These ongoing checks help prevent compliance risks by providing regular updates. With the option to integrate Human Resource Information Systems (HRIS), the tool eliminates the burden of monthly list creation, saving valuable time for HR departments.
Key Benefits of Compliancy Group’s Tool
The introduction of this tool comes with several standout benefits including:
- Automated Exclusion Searches: The software scans across 59 exclusion lists, which encompass state, federal, and international sources.
- Identity Verification: Users can determine if an employee or vendor shares a common name. The software assesses match authenticity by generating a percentage likelihood, simplifying the verification process.
- Sanction Screening and Investigation Management: Users have the ability to record notes and create follow-up tasks for any alerts triggered within the system.
- Regular Scans: Employee and vendor databases undergo weekly scans, ensuring users maintain the highest accuracy in reporting.
- Cost-Effective Compliance: The tool centralizes exclusion verification alongside regulatory compliance, helping organizations save on potential costs related to compliance failures.
- HRIS Integration: As new employees are added to an HR system equipped with this feature, they automatically undergo screening against exclusion lists, enhancing real-time monitoring.
The Importance of Exclusion List Verification
Understanding the critical nature of exclusion list verification is essential, especially for organizations accepting federally funded insurance such as Medicare and Medicaid. Neglecting to screen employees and vendors against sanction lists can result in severe consequences, including the need to repay claims associated with excluded individuals, reputational damage, financial penalties, loss of contracts, and additional scrutinies such as Corporate Integrity Agreements.
Additional Resources for Exclusion Verification
Compliancy Group provides multiple resources to assist organizations in understanding exclusion verification:
- Staying Clear of the Medicare Exclusion List
- Why OIG Exclusion List Verification is Important
- Understanding the Watch List System for Award Management Exclusions
- Understanding the FDA Debarment List
About Compliancy Group
Compliancy Group specializes in providing healthcare compliance software, featuring an extensive array of tools for tracking and effectively managing compliance programs. The platform offers users a complete overview of their compliance status and facilitates the generation of reports to demonstrate their compliance efforts.
CONTACT: Lauren Vetter, Contact Us
Frequently Asked Questions
What is Compliancy Group's new tool designed for?
It automates employee and vendor sanction screening by monitoring exclusion lists, helping organizations ensure compliance.
How does the tool integrate with HRIS systems?
The tool allows for automatic screening of new employees against exclusion lists upon their addition to the HRIS.
What lists does the monitoring tool check against?
It checks against 59 exclusion lists, including federal, state, and international sources.
Why is exclusion verification important for healthcare providers?
Failing to verify can lead to financial repercussions and reputational damage due to improper claims handling related to excluded individuals.
How often does the software update checks on exclusion lists?
The software performs weekly scans to maintain accurate reporting and compliance verification.
