Given the potential for costly settlements, unfavorable court rulings and regulatory fines, the stakes are enormous for companies that handle sensitive customer data and communications.
Compliance standards and regulatory document management requirements can vary at any time. Fortunately, O’Neil Digital Solutions vigilantly tracks the latest changes. We understand what security measures must be in place. We also review timing and language considerations for customer correspondence, records, and reports (among other documents).
Customer communication management platforms have many benefits, including streamlined content creation, hyper-personalized omnichannel communications, and robust data analytics. But content templates and an asset library won’t be as valuable if they’re not aligned with timely provisions that match industry standards as well as state and federal requirements.
Healthcare and financial services are among two of the industries that face the most scrutiny with regulatory document management. Two of the most critical regulatory/compliance standards we follow are:
- HITRUST, the Health Information Trust Alliance, certification enables vendors and covered entities to demonstrate compliance to HIPAA requirements based on a standardized framework.
- SOC 2 Type II is an internal controls report capturing how a company safeguards customer data and how well those controls are operating. Companies that use cloud service providers use SOC 2 reports to assess and address the risks associated with third-party technology services.
Deadlines, proper forms and personalization are just the start. Here are a few examples of the customer communications we manage:
- Annual Notice of Change (ANOC) and Evidence of Coverage (EOC)
- Bills & Statements
- Drug Formularies
- Compliance Letters & Kits
- Explanation of Benefits
- ID Cards
- Summary of Benefits
- Enrollment Kits
- Plan Comparisons
- Consent Forms
- Semi / Annual Reports
- Retirement Statements
- Summary Prospectus
- 401k Statements
- Policies & Certificates
- Bank/Credit Union Statements
- 1099, 5498, K1 Tax Statements
- Enrollment Kits
Numerous laws and protocols must be followed in light of the Health Insurance Portability and Accountability Act (HIPAA), the Sarbanes-Oxley Act (SOX), the Payment Card Industry Data Security Standard (PCI DSS), Securities and Exchange Commission regulations, among others.
With O’Neil’s end-to-end solutions, we flag potential violations and constantly combat errors. We also provide numerous ways for businesses like yours to reinforce individual relationships with their customers.
Our ONEsuite platform is a SAAS solution that helps limit compliance expense while minimizing risks. Our platform includes a robust data analytics engine, content management, template creation, CRM, omni-channel delivery and many other critical features. Process, produce and archive millions of personalized member materials, on time and correctly, either electronically or on paper.
Do you have questions about our solutions and how O’Neil can help you with regulatory document management? Contact us today or call.