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How to Manage Regulatory Change in Healthcare

In healthcare, change is constant. Whether it’s the introduction of new technologies, the shifting of reimbursement models, or changes in the regulatory landscape, organizations must continuously adapt to stay ahead of the curve. And while change can be a good thing, it can also be disruptive—particularly if it’s not managed effectively. That’s why having a robust regulatory change management program in place is so important. After all, without a proactive and systematic approach to managing regulatory changes, your organization could find itself scrambling to catch up—and that could have serious consequences.

So, what does an effective regulatory change management program look like? Here are four key considerations in managing your regulatory change processes in healthcare:

A clear understanding of the regulations
The first step in managing regulatory change is understanding the regulations themselves. This means having a clear and comprehensive understanding of all the applicable rules and requirements—and how they might change in the future. Depending on the size and complexity of your organization, this task may fall to a dedicated team or individual within the compliance department. However, it’s important to ensure that other key stakeholders—such as those in finance, legal, and operations—are also kept apprised of any changes that could impact their areas of responsibility.

A process for tracking changes
With a clear understanding of the regulations in place, you can then develop a process for tracking changes. This process should be designed to identify proposed changes as early as possible so that your organization has ample time to prepare for them. To do this effectively, you’ll need to establish strong lines of communication with key regulators—such as state and federal agencies—and track their activities closely. In some cases, it may also be helpful to engage with trade associations or other external groups that track regulatory developments

See also  What is Regulatory Change Management?

A system for communicating changes internally
Once you’ve identified a regulatory change that could impact your organization, it’s critical to communicate that information internally as quickly as possible. The goal here is to ensure that everyone who needs to know about the change is made aware of it—and understands what it means for their area of responsibility. To do this effectively, you’ll need to have a well-defined process for disseminating information (including who needs to be updated and how), as well as mechanisms in place for addressing questions or concerns

A plan for implementing changes
Finally, once you’ve communicated a regulatory change internally and ensured that everyone understands what needs to be done, you’ll need to develop and implement a plan for making any necessary changes. This may involve revising policies or procedures, updating training materials, or making system changes—among other things. Whatever the case may be, it’s important to ensure that these changes are made in a timely and efficient manner so that your organization remains compliant

Navigating the constantly changing healthcare landscape can be difficult—but it doesn’t have to be impossible. By having a robust regulatory change management program in place, you can proactively manage change and ensure that your organization stays compliant with all applicable laws and regulations.

Looking to manage your regulatory change management process? Check out Connected Risk.

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