ProVest's Risk & Compliance department provides services that are critical to maintaining the company's commitments to clients, business partners and regulators and that promote a culture of integrity and excellence. The department oversees the company’s compliance with legal, regulatory and internal requirements as well as provides guidance to management on any risk and compliance matters, including corporate governance, business operations, contract management, and dispute resolution. This collaboration ensures that compliance is present in all phases of ProVest's business operations, including process development, education and awareness, monitoring and audit activities, and process improvement.
These services help to ensure the soundness of ProVest's operations.
One of the department's primary functions is to maintain knowledge and awareness of the laws applicable to ProVest's operations nationwide, including any and all licensing and procedural requirements, and to work closely with company management and team members at all levels to ensure the company's business operations are compliant with those requirements. The department also provides company management assistance to identify and review risks associated with its operations and to establish proper controls for managing those risks.
The department, collectively with the Information Technology department, identifies, implements and maintains appropriate administrative, technical and physical controls to safeguard the information resources of ProVest and its clients.
To help ensure that ProVest team members have awareness of and play an active role in the company's compliance efforts, the department assists in the preparation and coordination of regular education and training. These courses are designed to provide knowledge of applicable legal and regulatory requirements as well as ProVest policies, specifically including those governing privacy, information security, notary services and document integrity. This also includes a regular review, and distribution for Team Member acknowledgment, of ProVest's Code of Ethics.
The department, along with ProVest's Contractor Relations department, updates ProVest's network of process servers, as needed, on client requirements and changes in law.
Compliance Monitoring, Review and Response
The department conducts regular monitoring activities and internal audits to determine whether implemented processes are compliant with applicable law, regulations and policy, providing a continuous cycle of process reviews and recommended improvements.
The department is responsible for reviewing and responding to any compliance inquiries, whether communicated by a team member, vendor, client or third party. In addition to reviewing any compliance inquiry, the department maintains ProVest's Privacy Notice and manages the process of responding to consumer inquiries.
The department manages the company's contracts, a process that includes the negotiation, drafting and management of contract documentation for new and continuing business relationships with vendors and clients. As a part of engaging and managing these relationships, the department conducts reviews and inquiries, as needed, of potential vendors and also works closely with ProVest's Contractor Relations department to ensure the company has the proper agreements in place with its network of process servers and other field agents. The department also responds to the inquiries of prospective and existing clientele to ensure they have a sufficient understanding of ProVest's operations and compliance practices.
In further support of client relationships, the department works directly with ProVest's clientele to address legal challenges related to service of process and assisting, where possible, with the compilation and review of documentation and evidence.
Transparency in Coverage Rule
This link leads to the machine-readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated service rates and out-of-network allowed amounts between health plans and healthcare providers. The machine-readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data.
Transparency in Coverage Rule