HOTB Software had its founding in developing large enterprise software solutions for federal and state governments that have allocated well above $6 billion dollars. Building off that foundation, HOTB now provides the leading and most comprehensive award-winning enterprise and cloud-based business and compliance process risk mitigation software. Focusing primarily in the ambulatory surgery center space and now broadening out to other healthcare verticals such as behavioral health and nursing homes, SCT/CoreCompli has made waves in the healthcare industry, leading HOTB to capture an exclusive partnership with Medline to assist healthcare facilities in managing and navigating the complicated accreditation and compliance landscape.
The founders of HOTB Software found that staying compliant and attaining industry accreditation/certifications is a significant pain point for the healthcare industry. Given that patients have a choice of their healthcare provider, the quality of care is a paramount concern and compliance plays directly into that notion. However, HOTB found that many facilities were still running their compliance programs through paper, binders and excel. HOTB Software aimed to take digital transformation to compliance to reach the last mile with a zero-tolerance culture. “Being recognized with MedTech Breakthrough Award 2020, for innovation in Healthcare data, has inspired us to continue to work hard and deliver true business value to companies globally,” said Andy Firoved, CEO of HOTB Software.
HOTB Software’s highly configurable SaaS solution is also touching other sectors such as the services industry and government as these industries also have shortcomings within their compliance program. The healthcare facilities served by the SCT/CoreCompli include Ambulatory Surgery Centers, Hospital, Addiction & Substance Abuse, Behavioral Health Centers, Nursing Homes/LTC, and Pharmacy & Labs. “The pre-built digital platform solution of HOTB Software ensures organization-level, and facility compliance prioritizes staff and patient health, and guarantees operational continuity even at a time of emergency events. The solution aims to foster the culture of compliance continuity and make healthcare facilities future-proof for unprecedented emergencies like the one we are currently facing- Covid-19,” added Firoved, CEO of HOTB.
“HOTB Software aimed to take digital transformation to compliance to reach the last mile with a zero-tolerance culture.”
As for the healthcare industry, today is more challenging than ever, with constant shifts in regulations, reporting requirements, and reimbursement models. Healthcare facilities recognize the importance of earning and maintaining their customers’ trust and the high cost of non-compliance. But from a practical standpoint, managing compliance programs well is time-consuming and difficult, and if the process is done manually, then there are chances of errors. Many healthcare facilities struggle to find adequate time and resources to maintain compliance continuity and random audits and surveys are costly in terms of human capital and extra support costs.
HOTB Software’s one-stop digital solution, SCT/CoreCompli streamlines the entire process of compliance management, internal process controls, accreditation requirements, and operational reporting at for healthcare facilities. The solution eliminates manual processes by digitizing policies, procedures, logs, online survey forms, creating a central database and document repository, and workflow automation, with check-ins and proactive operational reminders. As a single-source-of-information, the platform stores and supports remediation activities to prove continuous facility compliance and continuous auditing approach. HOTB Software’s facility and employee compliance capabilities cover a dozen areas, ranging from compliance certifications, employee data management, facility records, policy and procedures inventory, dynamic survey forms, incident reporting, automated reminders, and much more.
Many HOTB customers faced major challenges before the implementation of SCT/CoreCompli: managing large volumes of policies, procedures, overworked staff with a significant amount of time consumed in administration activities, low employee satisfaction, and tremendous cost pressure and need for more staff recruits. The list of challenges also includes lack of attention that has been paid to medication safety issues, enforcing policies and procedures that made them vulnerable for penalties, growing incidents of fraud cases in the facility, and allocating extra time for continuous staff training sessions.
After the implementation of HOTB’s solution, the audit/survey preparation time reduced by 60-70%, survey duration came down to 5 to 6 hours, which is 80% less time than average time taken and a decrease in deficiencies were reported in each instance. Average cost reduction came down 5x times, and also employee productivity has gone up by 30-40%.
The onset of Covid-19 has dramatically reshaped life as we know it. Healthcare providers are the front line of the COVID-19 pandemic. In the U.S., efforts to support healthcare facilities have resulted in rapid changes to the regulatory environment. HOTB is actively monitoring the changing healthcare compliance landscape and sharing insights with the existing customers. HOTB is building new features such as an enhanced compliance checklist to help assist with the various changes occurring in this environment. There is a strong push from stakeholders to re-strategizing/re-designing their compliance programs on the following:
- Address rapid chan
ges and emergency additions to business process, facility standards, and other mandatory requirements
- Collect and share relevant, educational documentation surrounding protocols, policies, procedures, and SOPs, for staff operating at multiple locations.
- Quickly and efficiently onboard new data attributes, audit forms, survey questions, new certifications, and accreditations.
- Quickly communicate updated policies to all of your locations via automated texts, emails, and phone calls.
- Monitor employee health, employment data at the click of a button
- Compliance reporting output precisely in the format prescribed by governing authority
- Instant incident reporting mechanism
By adapting quickly and planning for new and emerging risks and challenges, compliance teams can help mitigate risk and support business strategy for organizations to navigate the crisis successfully. As things tend to change almost daily or weekly, it is now, crucial that compliance teams have a seat at the table when business plans and meetings take place and make (or re-create) such a case for a seat at the table.
In general, compliance technology has begun as nothing more than a significant data storage location for documentation. However, cost efficiency, stringent and constantly changing rules and regulations, staff productivity, has propelled the need for process automation, event-triggered alerts to staff, and advanced data analytics. Advancements in Big Data, AI, and Cloud have enabled institutions to automate processes and solution workflows that previously required dedicated human intervention. These innovative technologies help reduce errors and speed up processes, freeing up resources to perform higher-level functions such as reviewing alerts and developing responses. HOTB’s SaaS solution is built with the understanding of where the market is developing in regard to digital compliance platforms.
HOTB is proactively working towards software enhancements based on existing and potential client requirements, market needs, inputs from subject matter experts, advisory groups, and accordingly, establishing its product roadmap and associated criticalities & priority levels. This advisory process includes periodic knowledge sharing and feedback discussions and annual user group conferences. Besides, HOTB has a dedicated marketing research team that does extensive research on new services and analyzes healthcare facility challenges. HOTB Software is expanding its footprint in the North American market, meeting the niche requirements of the healthcare community.
HOTB Software has worked with several facilities of different sizes, and each of the customer success stories illustrates how HOTB and its clients are improving healthcare together — from more efficient compliance process workflows to delivering quality patient care to helping compliance department of healthcare facilities- maximize the use of their healthcare data and timely completion of accreditation surveys. The cost of non-compliance is high that leaves companies at risk for financial losses, data security breach, business license revocations, business disruptions, poor patient care, erosion of patient trust, and a damaged brand reputation, which serves no one.