Conflict of interest (COI) is a serious issue that can have a significant impact on organizations of all sizes and industries. A COI occurs when an individual or organization has a personal or financial interest that could influence their judgment or decision-making. This can lead to biased decisions, decreased productivity, and even legal liability. COIs—which involve situations where an individual or company has a common ...
Watch our webinar, where we highlight the importance of preparing with the APRA CPS 230 framework, best practices being used globally, and how the right GRC technology can help financial institutions meet these requirements. In this webinar, we discuss: An overview of the requirements of APRA CPS 230 and its relation to similar acts such as APRA CPS234 and the EU Digital Operational Resilience Act ...
Artificial Intelligence (AI) chatbots have long been used in healthcare for basic use cases such as answering questions at an insurer’s website. However, with the rising visibility of ChatGPT, expansion into new healthcare use AI cases has dramatically increased. The global healthcare chatbots market is expected to top $543 million by 2027, at a 19.5 percent Compound Annual Growth Rate (CAGR). The potential for AI in ...
With an ever-increasing reliance on technology and external suppliers to facilitate transactions and deliver services to customers, businesses today face a multitude of risks which may disrupt operations, threaten their ability to deliver critical services and expose their information and that of their customers to cyber threats. The concept of operational resilience has emerged as a crucial framework for managing these risks and ensuring business ...
Large language models (LLMs) are a type of artificial intelligence (AI) that can be used to generate text, translate languages, produce different kinds of content, and answer people’s questions. Understanding large language model risks in healthcare is crucial as these technologies evolve rapidly. “Potential healthcare applications of LLMs span patient care, research and workflow optimization (clinical and nonclinical) use cases. In the future, appropriately trained ...
We thought we’d analyze the topics, keynotes, and speaking tracks at the Health Care Compliance Association's (HCCA) 27th Annual Compliance Institute in Anaheim, California this week. The word cloud below—which we created off the speaking tracks at the conference—shows the most common topics are HIPAA (Health Insurance Portability and Accountability Act) compliance, data privacy and security, employee training, and organizational culture. Each of these ...
This article is part two of a two-part series. Read part one about the impact of regulations and rule changes here. When it comes to European chemical rules, complying with regulations can bring benefits to manufacturers. Protecting public health and the environment is an important consideration for stakeholders. By demonstrating their products are safe and environmentally friendly, manufacturers can enhance their reputation and gain a ...
Not long ago, telehealth adoption amidst COVID-19 soared--seemingly overnight—and continues to be mainstream. Now, unfortunately, telehealth fraud is, too. The number of data breaches have soared since the beginning of the pandemic. In fact, 2022 was the second-worst year ever regarding the number of reported data breaches—only to be topped by 2021. Increased digital connections and communications in healthcare translates into increased audit and financial risks as ...
Data privacy and information security training continue to remain a top organizational priority. The number and sophistication level of phishing attacks continues to grow worldwide. In the six months ending October 2022, phishing attacks grew by 61 percent over the same period in the previous year. And a recent study by the Anti-Phishing Working Group (APWG) found that in the third quarter of 2022, worldwide phishing attacks ...
As recently as a few years ago, when executives and management teams discussed how to manage governance, risk management, and compliance (GRC), some of the questions were: Excel spreadsheets seem to be working well for the organization, or aren’t they? Should we use spreadsheets to “automate” compliance and risk management projects? Why spend precious budgets on software when much lower-cost solutions are available? Is it ...
