BPM helps make compliance worries a thing of the past
Compliance is one of the key considerations any medical or pharmaceutical firm has to make. The penalties for noncompliance are steep and the solutions to directly address it can be expensive as well, frustrating many firms and slowing down their own improvement. However, there are tricks that organizations can utilize with high-quality BPM for health care options that will ease these worries and promote stronger, more versatile operations without putting compliance at risk.
The largest risk that most firms encounter when it comes to compliance is the Foreign Corrupt Practices Act. Approximately 90 percent of FCPA penalties are attributed to third-party violations, or issues caused by the services and tools that an organization is using, rather than direct actions taken by the company. Additionally, many health care organizations and pharmaceutical businesses encounter major risks through the transactions and data generated on the customer level, as the Sunshine Act requires fully integrated data on all information as of Aug. 1, 2013. Failure to comply to this act can result in up to $1 million in annual fees until proper reporting procedures are in place for all financial transactions.
The tricks to overcoming these obstacles and ensuring complete compliance are threefold: automation of end-to-end business process management, optimize the quality and traceability of data and leverage modern technologies to improve the companies ability to search, find and utilize needed information. By investing in the right BPM software, these factors can all be achieved with relative ease – a company just has to focus on the tools and integrating them the best way possible.
Appian cloud BPM offers the accessibility and optimization that most health care organizations can benefit from. The flexible scalability of the cloud ensures that data organization and access is never a problem, while promoting ease of use and quick adjustments to address the issues that plague compliance. However, the cloud isn’t the only resource that those in the medical industry can benefit from – mobile and its integration with the cloud also plays a key role.
With a modern mobile BPM solution, firms will be able to take the anywhere access advantage of the cloud to the next level, allowing staff to utilize smartphones and tablets to improve their productivity and performance and maintain the plethora of other benefits that business process management offers.
When it comes to compliance, BPM solutions can help ease the many factors that affect a company’s ability to maintain a high standard of quality within in their operations, and make compliance concerns a thing of the past.
Director of Product Marketing