A growing healthcare system and a single-source consulting firm collaborated to build a world-class internal audit organization Due to expansion a healthcare system needed to add enterprise-wide healthcare audit expertise to help its internal team improve revenue and manage risk and compliance A strategic co-sourcing relationship with Protiviti led to improvements that helped the audit function achieve industry-leader status
The healthcare system experienced significant growth, adding locations across the U.S. However, the now de-centralized organization lacked the internal audit expertise needed to manage compliance and risk in several critical areas across their expanding enterprise.
The client preferred to work with a respected single-source consultant with deep healthcare audit expertise to help them assess knowledge gaps and implement best practices. Their goal; build a world-class internal audit function to reduce risk, meet compliance obligations, maintain profit margins and optimize revenue cycle functions.
Based on our expertise and close working relationship with the client’s internal audit team, Protiviti was engaged to assist with projects in key areas including:Revenue cycle – helped identify potential revenue opportunities within the billing functionInformation technology – conducted a payment card industry (PCI) program review, and external penetration testing to expose and analyze cybersecurity vulnerabilitiesCompliance –reviewed processes and practices for several programs, plus select Centers for Medicare & Medicaid Services’ (CMS) conditions of participation (CoPs). Finance – reviewed processes for compliance with 501(r) tax-exempt hospital regulations
A co-sourced partnership with Protiviti brought this growing healthcare system the needed industry knowledge and proven internal audit expertise to address its risk challenges and revitalize its internal audit function.
After a comprehensive assessment, the Protiviti specialty practice teams applied their expertise in a range of healthcare risk management domains across the enterprise, including compliance, IT audit and technical operations. The organization has gained a trusted adviser in Protiviti — an invaluable relationship in an industry characterized by constant regulatory pressure and change.
