Compliance Perspectives

By Adam Turteltaub Over the last decade private equity has discovered healthcare, and with that discovery has come a rush of money and compliance nightmares.  Valerie Rock (LinkedIn), Principal, and Kristen Lilly-Davidson (LinkedIn), Consulting Senior Manager, at PYA explain that there has also come a growing awareness of the importance of compliance due diligence. Five to seven years ago, they explain, private equity (PE) firms were focused on business valuations and financial reviews.  Over the years, though, they have learned to appreciate the importance of compliance and coding reviews, including clinical compliance.  The shift was the result of too many instances of finding significant non-compliance issues post-acquisition.  These, of course, can be very expensive. Firms today need to take the time to do site reviews to examine everything from the culture to the business practices to the condition of the building to the devices used.  Often paperwork doesn’t match what actual practices are, and a dys