OIG screening is essential for healthcare professionals to avoid financial penalties and reduce the risk of financial and reputational damage. This process helps identify whether a person or company is involved in criminal or illegal activities, allowing organizations to work exclusively with highly qualified and trustworthy individuals, vendors, or service providers. OIG stands for the Office of Inspector General, the governing body responsible for maintaining the list of excluded individuals or entities.
Individuals or organizations excluded by the OIG are prohibited from participating in federally funded healthcare programs, including Medicare, Medicaid, and other state-funded healthcare initiatives. As a result, these excluded parties are denied financial assistance, products, or services funded by federal or state programs.
Conducting OIG screenings, also referred to as sanctions screenings, is an ethical responsibility for all healthcare organizations. The OIG recommends performing this screening process at least once a month to ensure that all vendors, individuals, and service providers are checked against the most up-to-date exclusion list.
Potential Hazards of Working with OIG Excluded Individuals
Organizations are exposed to multiple risks when they work with excluded individuals or entities. The detailed explanation of these risks is given below:
1. Risks of Financial Fraud
OIG excluded individuals or entities (vendors or service providers) are often involved in financial fraud or other kinds of scams. Therefore, working with such individuals exposes healthcare organizations and providers to potential financial fraud.
2. Reputational Damage
Working with excluded individuals or vendors can damage your reputation severely. Being unprofessional and unqualified can also put the party on the Exclusions List OIG. Working with or hiring such people reduces the quality of your services. Consequently, it translates to a bad reputation among the patients.
3. Low-Quality or Delayed Services
Vendors and service providers are responsible for providing essential goods and services to healthcare organizations. Excluded vendors and service providers are associated with delays in delivery and low-quality products and services.
4. CMP, Civil Monetary Penalties and Fines
CMPs or civil monetary penalties are imposed on those organizations and healthcare providers who work with OIG-excluded individuals or entities. The amount of CMPs is $10,000, and the organization may face additional fines depending on the amount of federal-funded services and items used by the excluded party.
The above points emphasize more on the importance of OIG checks and the screening process. Performing accurate and regular compliance screening checks ensures that neither your current employees nor future hires are in the LEIE (list of excluded individuals and entities).
Benefits of Hiring a Trusted Compliance Partner
OIG screening and checks are an ongoing responsibility, with officials recommending that these checks be conducted at least once a month. This process involves reviewing current employees, potential hires, existing service providers, and prospective service providers. As a result, a significant portion of your working hours could be consumed by these screening tasks.
Partnering with a reliable compliance provider can save both time and money. With their extensive experience, they offer cost-effective and efficient screening solutions. Precision is critical in compliance, which is why trusted partners like Venops have been delivering compliance and screening solutions since 2014. Venops provides a range of services, including automated and unlimited daily screenings, ensuring high-quality results at an affordable price.
While healthcare companies can perform their own OIG or sanction checks, this often consumes valuable time and disrupts operational efficiency. Therefore, collaborating with a reputable compliance partner is highly recommended to streamline employee and provider screening processes.
Conclusion
Screening your employees, staff members, vendors, and service providers against the exclusions list OIG is crucial for healthcare organizations. It saves them from potential financial fraud and significantly increases the treatment quality. Additionally, OIG screening helps you to avoid working with excluded individuals and entities. As per the law, working with such excluded individuals and entities subjects the organization to severe civil monetary penalties and financial fines.
In order to stay clear of all these risks, collaborate with a reliable security and compliance provider such as Venops. They can assist you through their automated screening, and offer other top-quality screening services.