Third Party Administrators (TPAs) are faced with the daunting task of internal auditing. Creating a documented process and a review checklist will simplify the audit to ensure employees are dotting their I’s and crossing their T’s. First, let’s ask a fundamental question. Why and when do you need to conduct an internal audit or put monitoring in place?
The answer is simple – every day on an ongoing basis.
Internal monitoring and auditing is a type of ongoing evaluation of not only compliance with very specific requirements but also a check and balance for your team. It provides you with:
- A way to ensure you meet all compliance needs on an everyday basis
- A straightforward way of ensuring each member of your team is doing their job
- A method to prove you’ve taken every precaution necessary
- A way to go back and find out what went wrong
- A method to show you how you can improve your business.
Accuracy is paramount. With a reliable monitoring solution that reports directly to those leading TPAs within your organization, you will see better results. Better compliance, more accuracy, fewer emergency situations, and reduced fines for mistakes are all key benefits of having this type of monitoring and auditing in place.
You Need One, But How Do You Put it in Place?
It’s simple to see the value that auditing and monitoring can offer, but where do you get started? A wide range of checklists are available today. However, it pays to first put in place a system that makes compliance seamless and helps increase efficiency while reducing risk.
With electronic document management solutions such as Treeno Software in place, you gain far more access to the information you need to complete an audit. For example, the electronic document management software makes document management very effective. How does this help you with compliance and auditing?
- Treeno’s Integrated solution with your TPA software automates the naming of documents being filed. This makes it easy to access necessary documents to complete audits.
- It provides single click access to support files. This makes it easy to access files quickly to work through monitoring services. This eliminates the risk of paper documents getting lost or misplaced.
- It’s remotely accessible with ample security.
- Treeno’s auditing and reporting features offer detail auditing to support compliancy. This is at the heart of the benefits Treeno Software can offer to your company.
The first step is to put in place Treeno Software electronic document management solution so you gain access to information when you need it. Then, begin to create a checklist or other audit plan that allows you, as the TPA lead or business owner, to navigate through the system to ensure compliance goals are met.
How Document Management Enables Compliancy
A question that’s often asked is why document management is truly at the heart of compliancy to the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information technology for Economic and Clinical Health (HITECH). In short, the right tools can help to ensure regular audits take place, are done thoroughly, and are used to make improvements or changes as necessary. They provide ample security, but they also streamline the auditing to ensure there is ample time to complete the process. Imaging documents immediately ensure files are not lost or misplaced. Treeno’s document management solutions also provide management insight into unprocessed work so that they can distribute work amongst available resources. This process helps to reduce bottlenecks and ensure an improved customer experience.
Treeno Software offers a foolproof solution. Yet, every organization must create their own “checklist” to ensure complete compliance with all types of regulations. This type of software simply makes that possible and ensures outstanding results.