Risk assessments that support the internal audit plan form the backbone of assessing and addressing risk within the organization. Developing internal audit plans that correlate to the organization’s strategic plan, use effective risk assessment methods, and respond efficiently to change:

• Builds trust in the internal audit department
• Contributes vital information for the organization’s overall strategy
• Improves the organization’s overall sustainability and health

Empower your team to conduct an effective risk assessment—one that takes into account inherent risks in your environment but also encompasses industry and global risks that could affect your organization’s ability to meet its mission and strategic objectives — and results in a risk-based audit plan that addresses your organization’s highest risk areas.

Health care organizations have very small margins in today’s environment. Inefficiencies in any department can result in wasted resources, patient harm, redundancies, missed opportunities, and undue strategic, operational, financial, reputational harm exposure.

Improve internal controls and process efficiencies with process or departmental internal audits or reviews that identify:

• Internal control gaps
• Operational areas for improvement
• Opportunities to enhance value
• Risk management opportunities

From finance department functions to physician agreement tracking, implementing robust internal controls, and boosting process efficiencies can enhance operational performance, reduce costs, increase provider engagement—and ultimately improve patient outcomes.

Conducting an effective internal audit requires technical specialization and a designated team—resources that aren’t always readily available. Overcome these hurdles with talent sourcing options that can help fill gaps and meet deadlines without sacrificing quality and effectiveness:

• Outsourced. Access the technical expertise and experience needed to complete an effective audit without increasing your payroll costs or over-burdening your in-house team. Our professionals undertake the entire internal audit function with close engagement with your organization’s internal audit sponsor.
• Co-sourced. Complement and supplement an existing internal audit department—and provide technical backgrounds and experience when needed—that result in a project that meets expected results and moves your organization towards its goals. Our professionals collaborate with your team to provide insights, guidance, and support at all role levels.

Participating in the 340B Drug Pricing Program can lead to significant savings for covered entities. However, achieving and maintaining 340B Program eligibility is a complex, multi-layered process that can be difficult to manage and keep on an upward trajectory. Internal audit provides risk-based work covering the key program areas such as maintaining organizational eligibility, patient eligibility (diversion), provider eligibility, OPAIS database accuracy, policy and procedure adherence, etc. to all 16 covered entity types.

Explore our suite of 340B Program services manned by experienced health care professionals who can help you overcome common challenges and develop a more holistic approach to your program.

Risk exists throughout each organization and internal audit plays a pivotal role in assisting with evaluations of the design, implementation, and effectiveness of internal controls, risk management, and governance processes.

In today’s environment, risk expands beyond financial considerations and includes topics such as:

• Workplace safety
• Supply chain management
• Emergency preparedness
• HIPAA privacy
• Joint venture oversight and monitoring
• 340B Drug Pricing Program
• Physician, nurse, and clinical staff engagement and retention
• Drug diversion
• Scheduling and registration processes at physician network, including No Surprises Act requirements
• Philanthropic foundation processes and controls
• Incident system reporting
• Medical documentation education for practice sites