Earlier this month, among the many other celebrations, we also observed #ComplianceOfficerDay…which should come as NO surprise since we are in the compliance business. But, it also gives us a chance to address a question we field regularly: “Yeah, sure, I know…but do I REALLY need a Compliance Officer for my practice?!?”
The short answer? YES! According to regulations from the Texas State Board of Dental Examiners (TSBDE), but also in accordance with other agencies’ policies, you MUST have a designated Compliance Officer for a Dental practice. However, rather than asking the “need” question, in reality you should actually WANT a Compliance Officer in your Dental office! And believe it or not, it boils down to simple economics.
In many practice owners’ minds, a Compliance Officer simply represents another bottom line expense – whether on your staff payroll or as a monthly consulting retainer. It’s cash you see going out of your practice regularly and may seem like a “luxury” expenditure which could be sacrificed in cost-cutting measures.
And, for too many offices this IS the case. But, let us put this into a slightly different perspective. Why do you change the oil in your car regularly? Let’s be honest…an “inexpensive” oil change no longer exists, yet you continue to shell out $60, $70, or more every few thousand miles. Money going out, usually in less than 15 minutes these days. So, why keep spending it? Because those regular investments cost SIGNIFICANTLY less than replacing a vehicle engine!
How about that simple home maintenance task of replacing your HVAC filters? Again, all of the sophisticated, multi-layered, allergen-filtering, HEPA options now available, don’t come cheap. Yet, there they are – month after month – on your shopping list. Some rental properties even have an automatic monthly surcharge for filter delivery! Does that seem a bit excessive…or a smart investment? Regularly changing air filters can extend the life (AND cost-efficiency) of the unit EXPONENTIALLY!
So, think about all of the “maintenance” investments you make every single month, or at least on a recurring basis. Those who follow these sound practices, have taken the “ounce of prevention equals a pound of cure” adage to heart. With that perspective, why wouldn’t you WANT to protect your single largest investment…your Dental practice?!?
With just ONE single compliance violation, you could be facing fines that start at $5000 and go up from there – and that is the PER-VIOLATION cost! Think of all the motors and air conditioning units you could replace for just a few compliance oversights. Now, any experienced practice owner knows it’s not a matter “IF” an inspector from some agency (there’s an actual Baker’s Dozen!) charged with Dental oversight shows up at your door…it’s a sure-bet “WHEN.” And when they DO come, they will want to speak with your Compliance Officer.
So there you are! Yes, they do expect you to have someone specifically tasked with this responsibility – just as DPS expects you to carry a minimum of liability insurance on any vehicle registered to you. Sure, both are required. BUT, both are also smart investments…and could save you countless dollars and hours of legal issues! And that’s why you should REALLY want a Compliance Officer!