Compliance

Implement a Real-time Compliance System

How does Inovaare’s integrated compliance solution transform the existing compliance infrastructure of an organization?

Inovaare delivers a centralized workflow and data management system that optimizes health-plan compliance, enabling compliance staff to access operational source data in real time. This critical information is used to support efficient, effective execution of a health plan’s compliance program across all areas of responsibility, including:

  • CMS Audits
  • Compliance monitoring
  • Regulatory reporting
  • First-tier, downstream and related (FDR) delegated entity oversight

Inovaare’s compliance framework serves as the engine for tracking and reporting compliance and risk information to senior management and regulatory authorities.

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Audit Management

Optimize a wide range of audit-related activities—including tracking, reporting and action plans—within a unified, comprehensive audit framework.

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Compliance Tracking

Risk Assessments

Identify, assess and manage organizational risks proactively through a seamless, real-time risk assessment framework.

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Regulatory Reporting

Audit your compliance system continuously with through regulatory-reporting automation
solution.

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CMS Universe

Ensure efficiency, transparency and quality control across internal audit processes with an embedded audit universe-creation module.

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Regulatory Library

Streamline the review process, organize communication and improve timely response to regulatory memos with an centralized library.

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Typical Current Compliance System

Inovaare-Typical-Current-Compliance-System

THE PROBLEM: In most organizations, Compliance does not have direct access or line-of-sight to real-time operational data. Instead, you must rely on IT to construct reports pulled from operational data sources, or depend on reports that operational areas compile themselves. Changing existing reports, creating new ones, or obtaining ad-hoc data can be difficult and time-consuming. Worse, the potential time lag with this type of reporting can mean that Compliance isn’t made aware of significant issues until weeks or even months after the fact. In some cases, critical issues may not be identified at all until an internal audit or some member- or regulator-driven event brings it to light. By then, the consequences can be severe. Systems that do not allow Compliance to operate in the “here-and-now” do nothing to address this fundamental problem.

Inovaare SOLUTION

The Inovaare Framework for Compliance

Inovaare-Framework-Compliance

THE SOLUTION: Inovaare’s approach is fundamentally different, because Inovaare systems enable Compliance to monitor organizational performance at the source, in real-time. No more time lag. No more reliance on IT to create and deliver the reports you need. No more waiting on operational areas to send you KPIs that haven’t been validated. No more wondering where your delegated entities stand. Inovaare systems give you direct access to the operational data you need, in the form and format that meets your requirements (as well as your regulator’s requirements), at the click of your mouse. Real compliance in real-time.

Industry PROBLEM