Building Your STEADY Partner: The Executive's Guide to Compliance ROI

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Transforming Compliance: Lessons from 'Margin Call' for Healthcare Executives

In this episode of the Compliance Advantage Podcast, host Ross Ronan dissects the 2008 film 'Margin Call' to highlight the critical role of compliance executives in preventing organizational disasters. Using the movie as a backdrop, Ross introduces his STEADY framework to illustrate how compliance officers can be transformed from regulatory enforcers to strategic partners. Key topics include the importance of transparency, strategic planning, documentation, and adaptability in compliance programs. Ross also discusses the real-world implications of these principles in healthcare, emphasizing that 89% of healthcare fraud cases involve leadership aware of compliance issues who failed to act. The episode aims to help healthcare executives reframe their approach to compliance as a strategic asset that not only mitigates risk but also drives growth and innovation.

00:00 Introduction: The Importance of Compliance
01:53 Analyzing 'Margin Call': A Case Study
06:35 The Steady Framework: Transforming Compliance
07:54 Strategy and Transparency in Compliance
13:24 Evaluation and Adaptation: Key Compliance Skills
20:15 Documentation and Yield: Ensuring Continuity and ROI
30:41 Practical Steps for Healthcare CEOs
33:25 Conclusion: Building a Strong Compliance Program

Connect with Ross

• LinkedIn: Ross Ronan
• Podcast Show Page: The Compliance Advantage
• Ross' Company: Ronan Healthcare Compliance