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Be CMS Audit-Ready: Proactive Steps to Ensure Compliance and Avoid Penalties
Heidi Kocher
Partner, Liles Parker | Of Counsel
Ned Mumtaz
Former Director, Transparency Operations, Commercial and R&D
Pfizer | Otsuka
October 8th, 2024
10:00 AM – 11:00 AM EST (Eastern Standard Time)
04:00 PM – 05:00 PM CET (Central European Time)
About the Event:
Overview:
Is your organization truly prepared for a CMS audit? The Centers for Medicare & Medicaid Services (CMS) have intensified their audit efforts, and any life sciences company could be selected next. Errors in transparency reporting, particularly in capturing transfers of value (TOVs), can cost your company up to $10,000 per mistake—and up to $100,000 for each gross negligence, which can also lead to bribery investigations.
Failing to stay compliant isn’t just costly; it can lead to significant reputational damage. Being audit-ready is no longer an option—it’s a necessity. Our webinar will guide you through why your company may be at risk and how to proactively prepare for a CMS audit, avoiding penalties and ensuring compliance with the Open Payments program. Understand the key triggers and gain the tools needed to protect your organization from unexpected audits.
Why Attend?
- Discover why you could be at risk of a CMS audit and what makes you a target.
- Learn the key audit triggers and how to mitigate risks effectively.
- Best practices for organizing and maintaining audit-related documentation to avoid penalties.
- Explore how our AI-powered analytics can streamline audit preparation and identify reporting discrepancies.
- Get expert insights on correcting historical data errors and submitting accurate reports.
- Develop a comprehensive, long-term plan to ensure continuous audit readiness.
This webinar is essential for compliance professionals, legal experts, and executives in the life sciences industry who manage transparency reporting and are responsible for CMS audit preparation. Whether you’re new to the field or a seasoned expert, this session will provide actionable insights to protect your organization from costly audit pitfalls.
Key Topics Covered:
- Why your organization may be at risk of a CMS audit.
- Understanding CMS audit triggers: Random vs. Risk-based audits.
- Conducting internal mock audits to identify and address gaps before CMS does.
- Documentation strategies: Centralizing policies, SOPs, and historical data for audit readiness.
- Leveraging AI/ML technology for outlier analysis and proactive compliance monitoring.
- Preparing resubmission reports and corrective actions for historical inaccuracies.
- Long-term strategies for ensuring compliance and avoiding audit penalties.
Speakers
Ned Mumtaz
Former Director, Transparency Operations, Commercial and R&D Pfizer | Otsuka
Ned Mumtaz is a pharmaceutical industry veteran with 18+ years of experience. He’s held leadership roles at Schering Plough Research Inc., Wyeth Pharmaceuticals, Eisai Pharmaceuticals, and Otsuka Pharmaceuticals. A trusted consultant to 30+ drug and device manufacturers, Ned leads the compliance analytics practice and is recognized for his contributions to conferences, white papers, and webinars.
Heidi Kocher
Partner, Liles Parker | Of Counsel
With over 20 years in healthcare law and compliance, Heidi Kocher has held key roles, including compliance officer at a DME company, privacy officer at a medical device manufacturer, and legal advisor for hospitals, physician groups, pharmacies, and non-profits. She specializes in compliance and privacy programs, Corporate Integrity Agreements, audits, reimbursement, and aggregate spend reporting under the Sunshine Act.
She has also developed compliance programs for FCPA and Eucomed, and defended FDA audits.
Join Us!
Don’t wait for a CMS Audit to uncover issues—be prepared. This webinar provides a clear roadmap for CMS audit readiness, ensuring your organization stays compliant and penalty-free. Register now to take proactive steps toward audit success.