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5 Steps for Effective Vendor Compliance Management

Compliancy Group

Healthcare vendor compliance is one of the most important things to consider when choosing vendors for your healthcare organization; adopting a vendor compliance management strategy is essential for assessing whether or not a vendor is suitable to work with. Something is wrong with your submission. However, in the end, it’s worth it.

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New Safe Harbor and General Compliance Program Guidance Provides Opportunity for Buyers to Mitigate Litigation and Fraud Risk

Health Law RX

Healthcare companies should engage experienced regulatory counsel to advise about the nuances of each element as they gauge the impact that regulatory compliance may have on deal terms. But robust pre-closing due diligence is not always practicable. Conduct a thorough risk assessment of seller’s compliance program.

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The Importance of Third-Party Compliance: Mitigating Risks and Ensuring Accountability

Compliancy Group

By establishing robust oversight mechanisms and enforcing accountability measures, companies can safeguard their reputation and maintain regulatory compliance across all areas of operation. This is where technology steps in – specifically with the use of third-party compliance software.

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Top Security Certifications Required for Data Protection

HIT Consultant

A lack of regulatory compliance, network and technical vulnerabilities, unencrypted information, unsecured mobile devices, and weak credentials all play a part in putting a healthcare organization at risk for a data breach. Paul Banco, CEO of etherFAX    How secure is your data? How Can a Data Breach Be Prevented?

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What You Need for Your SOC 2 Readiness Assessment

Compliancy Group

It also ensures that you uphold any data privacy requirements mandated as part of regulatory compliance. A SOC 2 readiness assessment is crucial for evaluating your security posture and preparing for potential threats to sensitive information.

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Pharma IT and AI – 2024 Health IT Predictions

Healthcare IT Today

Streamlining Due Diligence with AI: AI technologies will likely be crucial in conducting efficient and thorough due diligence, examining potential M&A targets in the biotech industry for their scientific innovation, financial stability, and market compatibility.

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DOJ Further Revises Corporate Criminal Enforcement Policies: Focusing on Individual Accountability, Corporate Responsibility, and Additional Demands on Chief Compliance Officers

Health Law Advisor

For example, if a corporation operates in a highly regulated industry, then its history of regulatory compliance should be compared to that of similarly situated companies in that industry. The updated guidance also emphasizes being mindful when comparing corporate track records.