The insurance industry has received substantial help in its pushback against various legislative and legal efforts seeking to compel insurers to cover business interruption (BI) claims stemming from COVID-19, including...
Archive - May 2020
Opportunities Abound in Pandemic Reemergence Planning
As businesses face the uncertainties created by the COVID-19 pandemic, many are also shifting their forward-looking strategic objectives and priorities. Meanwhile, employees are in waiting mode, perhaps waiting for...
So You Had a Plan … Resetting the Technology Portfolio to Align With the Reemergence Strategy
With the COVID-19 global pandemic upending life as we know it, organizations face a landscape and a future that is drastically different from what they perceived at the start of 2020. Altered priorities of customers...
Paycheck Protection Program: A Good Idea Going Bad?
The basis for the Paycheck Protection Program was (and remains) compelling: COVID-19 and associated stay-at-home orders were wreaking havoc with the small businesses that form the backbone of the U.S. economy. Something...
A Finance Labor Model Tailor-Made for Navigating Crises
What happens to a business that is heavily reliant on its finance operations located in a foreign country, and it discovers that a government response to a global pandemic has sent the members of that team to shelter at...
Managing and Mitigating Credit Risks and Losses Through the Crisis and Beyond
Many financial institutions have moved quickly to operationalize changes needed to address the near-term and longer-term impacts of the COVID-19 global pandemic. In a recent webinar conducted by Protiviti, credit risk...
SOC Reports: Anticipating Challenges Can Help Minimize Disruption of SOX Compliance Programs
Many organizations outsource business processes and obtain SSAE 18 Service Organization Control (SOC) 1 reports. Due to the COVID-19 pandemic, some of these SOC-1 reports may either be delayed in their issuance, as...
Utilizing Technology to Streamline Documentation, Coding and Billing Requirements of COVID-19 Cases
On April 1, 2020, the Centers for Disease Control and Prevention (CDC) announced a new ICD-10-CM code to document the diagnosis of COVID-19. The CDC originally planned to implement this code on October 1, 2020, but...
Section 1135 Waivers: “Patients Over Paperwork” Does Not Mean NO Paperwork
On March 13, 2020, President Trump declared a national emergency in response to the COVID-19 pandemic, enabling the Secretary of the U.S. Department of Health and Human Services to temporarily suspend, modify and give...
The Pandemic Crisis Draws Sharp Contrast Between Digital Leaders and the Rest
Our Top Risks survey that we released at the start of the year showed that many business leaders were worried about their organizations’ ability to compete with digital-born competitors. Had they known at the time what...