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Compliance

Transform your Compliance System for the Better

How does Inovaare compliance solution transform the existing compliance infrastructure of a firm?

The purpose of the Inovaare system is to provide a health plan with a centralized work flow and data management system, enabling Compliance staff to access operational source data in real time. Information in the system is used by Compliance staff to support efficient, effective execution of a health plans compliance program across all facets including auditing, monitoring, reporting FDR oversight, etc. Inovaare’s compliance framework becomes the engine for tracking and reporting compliance and risk information to senior management and regulatory authorities.

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Audit Management

Manage a wide range of audit-related activities, data management, and processes in a unified and comprehensive framework.

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Compliance Tracking

Risk Assessments

A comprehensive risk assessment framework to proactively identify, assess and manage organizational risks.

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Regulatory Reporting

Make your compliance system auditable with Inovaare’s regulatory reporting automation
solution.

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CMS Universe

Promote efficiency, transparency and control across your internal audit process with Inovaare’s Audit Universe creation module.

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Regulatory Library

Streamline the review process, organize communication, and improve timely response to regulatory memos.

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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.

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