April 11, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced its participation in the 15th Annual Compliance Institute. Organized by the Health Care Compliance Association (HCCA), the conference will be held from 10th-13th April, 2011 in Orlando, Florida. Compliance professionals from across the nation will come together to discuss key trends, issues and concerns surrounding regulatory norms in the healthcare industry.
As one of the most heavily regulated industries in the US, Healthcare spends tremendous costs and efforts on compliance. Yet regulatory norms are only increasing, and healthcare organizations find themselves having to cope with older norms such as HIPAA, as well as newer mandates such as the Affordable Care Act. Effective compliance requires organizations to establish an integrated enterprise risk management system, conduct regular risk-based audits, monitor controls and provide timely business intelligence on compliance to Boards and Management.
The HCCA Compliance institute will help address these demands through thought-provoking insights. The conference will bring together industry experts, thought leaders and compliance professionals to discuss how to effectively adapt to changing healthcare reforms, processes and technology with a sustainable compliance program.
MetricStream will be showcasing its market-leading solutions at the conference. MetricStream GRC solutions uniquely combine software and content for an integrated GRC framework. The solutions are built on an enterprise-wide GRC platform that is known for its flexibility and scalability. It streamlines GRC workflows through powerful capabilities, and is equipped with an application studio to develop one’s own GRC applications.
MetricStream Compliance Management Solution enables effective, integrated compliance with the complete spectrum of healthcare regulations, ranging from HIPAA, to CMS mandates, to the Affordable Care act, to cross-industry regulations such as SOX.
With regard to HIPAA compliance, the solution provides a central repository for policy and procedure management, helps assess and analyze risks through powerful risk heat maps and risk calculators, manages the complete audit lifecycle, identifies issues and gaps in processes or controls, and provides an automated issue remediation process.
MetricStream Solution also helps organizations adopt a proactive approach to prepare for RAC audits. The solution simplifies RAC audit processes such as fulfilling record requests, submitting the required documentation on time, compiling and approving claim data, and managing appeals smoothly and efficiently.
The solution also empowers organizations to proactively identify improper payments and mitigate the risk of losing legitimate earnings. It automates the internal audit process, provides a central repository for easy and efficient document management, streamlines the compliance management process, and provides powerful dashboards for enhanced reporting and monitoring.
MetricStream is positioned in the Leaders Quadrant of the Gartner Magic Quadrant for Enterprise GRC Platforms, 2010. Leading healthcare organizations across the world choose MetricStream solutions to strengthen their risk, compliance and audit programs.
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, UBS, SanDisk, Subway, Fairchild Semiconductor and Cummins in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.