Telehealth Compliance
For organizations across all industries, risk management is of paramount importance and nowhere is it more valuable than in the telehealth industry, especially when it comes to financial returns. On-going certifications, like continuing education units, licenses and certifications, must be tracked and renewed in order to access health care reimbursements. Failing to track these crucial elements for reimbursement purposes can lead to devastating financial losses, financial non-compliance with organizations’ governing bodies, and a barrage of legal implications. To mitigate this risk and maximize organizational returns, a certified tracking system should be implemented in all telehealth organizations.
Integrating a certification tracking system is vital to any telehealth organization as not only does it optimize costs associated with training and certification, it ensures accurate, reliable and timely reporting to all relevant stakeholders. This system informs organizations of upcoming certifications, renewal periods, and tracks diversified and distributed license or certification statuses. This eliminates manual administrative tasks, eliminates miscommunication, and enables organizations to ensure all of the required certifications and license renewals are met and reported.
The ability to track certifications and license renewals is critical in order to access federal (i.e. Meaningful Use) and state programs eligible reimbursements as well as public and private insurance reimbursements. In order to reap the benefits of these financial compensations, an organization must demonstrate certification alignment as evidenced through accurate tracking and renewal of licenses. Accuracy and verifiability are key components for meeting the criteria for these reimbursements, something a tracking system enables and simplifies.
Implementing the certified tracking system across a telehealth organization requires a significant investment of resources, across various departments and people within those departments. As such, the value in leveraging such a system should be weighed against the cost, and a delicate balance of cost-benefits must be established. This doesn’t mean only financial benefits should be considered. Other factors to consider include the practical benefits of having a tracking system, like improved processes, performance and data accuracy, scalability and reliability of tracking information and ultimately improved patient care.
Despite the challenges associated with the implementation of such a system, the costs, both direct and indirect, associated with failing to establish a certified tracking system far exceed the cost-benefits of implementing such a tool. It is important to take into account the value of time and its impact on organizational resources and ultimately finances when deciding whether to implement a certified tracking system.
The ability to manage certifications and to ensure that all license and renewal requirements are met is essential for a viable telehealth organization. The financial risks far outweigh potential costs associated with implementing a certified tracking system, as the penalties levied from failed certification or tracking system can have a severe negative impact on organizational financial returns. To enable organizations to both reap the benefits of the telehealth industry and reduce costs associated with expensive certifications, implementing a certified tracking system is essential.
Failing to integrate a certified tracking system can result in a flurry of financial and legal implications that can be extremely difficult to recover from. To maximize financial returns by mitigating the risk of hefty penalties and associated costs, a reliable certification tracking system is indispensable.
