[ Thursday, April 03, 2003 ]
Here's an interesting new resource:
The Office of the Inspector General of HHS and the American Health Lawyers Association have teamed up to draft an interesting guide
for members of the board of directors of health care entities. With the recent passage of the Sarbanes-Oxley Act (the corporate responsibility law inspired by the runaway fraud that brought down Enron), there are greater obligations on boards of directors of publicly-held companies to make sure they know what's going on in their companies and a greater liability if something wrong is happening and the board turns a blind eye. In the health care field, in addition to simple accounting fraud, you have the possibility of violating fraud and abuse laws (and many other confusing regulatory prohibitions) as well, so boards of directors should be especially vigilant. While the Sarbanes-Oxley Act doesn't affect non-public boards, it is instructive of what boards should be looking out for, and this fairly short guide is a nice resource.
Jeff [9:22 AM]
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