In this era of private equity involvement with healthcare, investors can no longer avoid liability with the claim that they are just an investor. The liability of investors in companies is now in the spotlight. Professionals in the industry predict that the government will increase the frequency of commercial audits and CMS audits.
On this episode of The Professor’s Corner, host Geoff Cockrell is joined by Wiks Moffat for a discussion of the importance of compliance programs. Bringing over 25 years of professional experience to the role, Wiks is Principal at the HealthCare Compliance Network, where he assesses, builds, implements, and maintains compliance programs.
Wiks shares insights on what to look for during due diligence, in particular, whether a company has a culture of compliance. He advises companies to consider compliance at all times, and recommends putting a compliance committee in place to ensure they company have the necessary reporting structures in place.
“You would much rather, because of your culture of compliance, find a problem, than have the feds or the commercial payers come in and start poking around and find these things because then you're in a much less defensible position. For lack of better words, you want to be policing yourself throughout all of this,” explains Wiks.
Name: Wiks Moffat
Organization: HealthCare Compliance Network
Connect: LinkedIn
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