Assignment:
Discussion 1
Compliance and Governance Plan for XMD
Recently we added a new business domain XMD (Xtreme Medical Doctor), in our existing Business XT (Xtreme Technologies: a digital marketing company). The XMD will be the healthcare division of Xtreme Technologies. This paper will cover compliance and governance plan for XMD. Compliance and governance complement each other, Governance metrics can be used to satisfy regulatory requirements, and similarly, compliance can provide metrics to improve business and cost. Each section of this paper will cover following.
• Privacy Issues of customers
• Intellectual Property and Health care division
• Healthcare laws and regulations, historical background, amendments, and implications of violations.
• Laws applied to XMD and the latest privacy challenges the pharmaceutical industry is going through.
• Role of metrics in Compliance and Regulation
The goal and primary benefit of healthcare Governance & compliance are to improve the quality of patient care. XMD can improve it by making healthcare decisions based on appropriate and current clinical standards. Compliance also helps healthcare organizations and providers avoid problems with government agencies. It is essential to minimize inadvertent violations at any level within the healthcare business. The entire healthcare organization needs to be cognizant of the general laws and regulations that define its operation. Within the organization, the specialists are responsible for their aspects. For example, IT needs to be aware of HITECH, HIPAA. Facility operations need to be aware of OSHA rules, local Govt, city, etc., codes. Medical billing, especially, must understand the proper usage of the CPT manual, and so on.
The healthcare industry is shifting its trend towards care delivery, research, and administrative functions in information technology. By these shifts, the IT environment in many healthcare organizations is evolving into a complex patchwork of applications, technologies, processes, and data types. Compliance and Governance are high on demand, and the top management takes decisions based on the data provided. COVID has impacted privacy worldwide; even countries with strict privacy laws like GDPR have also compromised personnel data to control the spread of disease. This paper will also emphasize how fragile our healthcare systems comply. Data breaches also increased in recent years, and COVID has allowed scammers to target systems/data via social engineering and malicious code. Cybersecurity for healthcare systems has grown exponentially; companies have to invest in cyberinfrastructure, training, and digitalizing of medical records. Governance and compliance can make tomorrow's healthcare solutions secure, trusted, and well-funded.
For ensuring comprehensive compliance and governance to all health care standards, XMD must develop its own "Compliance Plan" based on the OIG recommendations. The "Compliance plan" should focus on risk areas and vulnerabilities that can identify problems and find solutions to those problems before government agencies get involved in it
Discussion 2
The IT compliance paper provided a creation of an effective compliance and governance control to foster the enforcement of organizational policies and standards. The enforcement focuses on handling privacy issues of Denspec Corporation while aligning with the organization's goals, mission, and vision. The key requirements for the compliance program as identified are aggregated framework of control achievements for vision and architecture of the firm. The paper discussed a detailed plan of action for the development and deployment of a compliance and governance plan for the entire life cycle of the organization. The detailed action plan and its factors are discussed to provide an effective platform for Denspec regarding challenges associated with the information technology in the current world. Every business, regardless of its aims, requires a robust IT governance. To optimize data responsiveness, the compliance program must adhere to all applicable rules and regulations and offer data protection. Compliance with legal requirements is required to achieve success in overcoming commercial ramifications.
The paper covers privacy issues of clients which arise because of the growth of technology in the modern world which has expedited worldwide communication, making it easier to obtain vast amounts of information. Privacy issues as discussed result from availability of information which is accessible by different individuals. The paper as well discusses protection of intellectual property. Denspec Company has an issue with copyright. However, the organization's security architecture would be organized in a consistent way to preserve data and avoid risks related with privacy problems and the obligation to secure the organization's intellectual property. The IT compliance program offers the advantages of a risk management system, collaboration, and cooperation for better outcomes. When it comes to IT, there are always new problems to deal with. From the issues outlined, the paper emphasizes on policies and standards useful for addressing the challenges identified. Lastly, the paper provides recommendation on the implementation of the compliance plan.