Keeping the Board of Directors Educated

Keeping the Board of Directors Educated

The dynamic nature of the healthcare space and its sensitivity towards global socio-political changes warrants reactionary measures to cushion it from these effects. Indeed, the global imminence of economic collapse has intensified regulations and renewed global enforcement systems in most economic sectors. The corporate compliance program is a feature in healthcare organizations that provides a basis for enforcement and regulations. A corporate compliance program defines a program that specifies organizational policies and actions that help it detect and prevent violations in its operationalization framework, laws, and regulations. The effectiveness of an organization in the wake of operational changes depends on how well its administrators understand and abide by it. This paper details how a hospital’s board of directors can remain educated on the structural and organizational aspects of a corporate compliance program (CCP).

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The first strategy that ensures a better understanding of the structural and operational aspects of a CCP in the healthcare field is having a simple yet focused CCP. The significance of CCP in mitigating organizational risks makes it extremely important. A simple CCP is easier to communicate to the board of directors and other corporate subjects. Additionally, the discipline of compliance is elaborate, with contextual variabilities in semantics and professional diversities being apparent. The simpler the CCP, the easier it is to communicate it. However, it should maintain a focus on mitigating risks. It should not be so simplified that its significance fades (Stöber et al., 2018). A simple and focused CCP is the key to operational success.

Frequent periodic targeted training of the board members on the provision of the CCP is another way to keep them educated on its operational and functional aspects. Regular training on CCP ensures that these members are continuously aware of these provisions. These pieces of training enable information sharing and provide a platform in which board members’ understanding of these provisions can be reviewed and changes integrated into the CCP. Continuous training on CCP has been lauded for its impact on maintaining organizational contact with its operationalization policies and code of conduct (Arain et al., 2019). It is, therefore, an integral process that perpetuates good governance.

Results management and reporting also ensure that organizational directors are aware of the provisions of the CCP. Constant reporting on corporate policy or legislative contraventions to the executive board of directors reinforces their understanding of these provisions. Reporting reiterates the significance of these provisions on organizational operationalizations and provides checks and balances to their application. From the directors’ point of view, it emphasizes their significance, enabling better recognition and acknowledgment of their existence. Likewise, results review provides a platform for internal audit of its compliance systems. Results management and reporting are thus powerful tools for ensuring directors remain educated on the provisions of the organizational CCPs. Reporting can be enhanced by establishing a formal whistle-blower or a feedback system, fostering safe and anonymous reporting, and developing a reporting dashboard (Chen, 2018). This way, the board of directors can interact with these reports frequently.

Creating a policy of oversight compliance measures is another way of bolstering knowledge of the structural and operational aspects of CCP. The Affordable Care Act reinforces the significance of healthcare programs’ oversight as a framework for enhancing organizational understanding of quality enhancement measures (Blackstock et al., 2021). The board of directors’ knowledge of CCP can be improved by making them assume more oversight roles. These roles will enable them to monitor and enforce compliance programs to other members of the organization and, in the process, develop a more robust and elaborate understanding of these provisions.

Monitoring and auditing systems are other components needed to educate the organization’s board of directors on the provisions of the CCP. Implementing monitoring and auditing systems provides a platform for gathering intelligence from the organization and soliciting feedback or employee reactions toward the functional aspects of the CCP. These systems can be used internally to measure the effectiveness of the CCP and identify apparent risks. They, therefore, provide a more elaborate perspective and thought processes on the program. Audit reports obtained from these systems remain insightful and inform on corrective measures and areas that require adjustments. Continuous contact of the board members with these audit reports may give them a better understanding of the operational aspects of the CCP.

Establishing written policies, procedures, and standards outlined in the CCP and objectives is another way to maintain education among board members. Policies, procedures, and standards of conduct are key highlights of any compliance program as they define its functional and structural aspects. Board members playing the oversight role can have them written and placed in strategic positions within the healthcare organization to maintain contact with them. Writing is a show of commitment to the written provision and offers a point of clarity. The objectives should also be defined. From the board’s perspective, these objectives should be tailored toward ensuring they are aware of these provisions. Writing down maximizes contact with the provisions and ensures board members are better educated on these provisions.

CCP remains an important highlight in healthcare organizational operationalizations. Its significance in identifying and mitigating corporate risks makes it particularly necessary in corporate governance. Board members, having a role in governance, should, therefore, remain educated on the functional and structural aspects of the organizational CCP. To ensure enhanced education of these provisions to the board members, the CCP should be focused and simple, and its provisions should be written down. The board members also remain aware by maintaining contact with organization audit reports.

 References

Arain, M., Tarraf, R., & Ahmad, A. (2019). Assessing staff awareness and effectiveness of educational training on IT security and privacy in a large healthcare organization. Journal Of Multidisciplinary Healthcare, Volume 12, 73-81. https://doi.org/10.2147/jmdh.s183275

Blackstock, S., Richards, A., & Fleisher, L. (2021). Shaping Medicare’s Health Care Regulations. JAMA Health Forum, 2(10), e213017. https://doi.org/10.1001/jamahealthforum.2021.3017

Chen, X. (2018). A Summary of Research on the Influencing Factors of Employees’ Willingness to Whistle-Blowing. American Journal Of Industrial And Business Management, 08(07), 1732-1746. https://doi.org/10.4236/ajibm.2018.87116

Stöber, T., Kotzian, P., & Weißenberger, B. (2018). Design matters: on the impact of compliance program design on corporate ethics. Business Research, 12(2), 383-424. https://doi.org/10.1007/s40685-018-0075-1

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Keeping the Board of Directors Educated

Outline key components needed for the Board of Directors to remain educated on the structural and operational aspects of their organization’s corporate compliance program.