Minority and Women Owned Business Training Modules is a very important online resource to anyone interested in becoming an OTDA contractor. A valuable learning resource for those aspiring OTDA contractors or vendors that provide specialized information on MWBE compliance requirements. The training is useful whether you’re just MBWE certified, already in the process of becoming certified or not yet certified. This training will provide you with the necessary knowledge to effectively conduct your business while complying with all of the federal, state, and local laws.
Majority of Minority and Women Owned Businesses are government contractors. Most of the time they work for the U.S. Postal Service (USPS) or the U.S. Department of Defense (DoD). In order to be able to apply for these government contract jobs, you must have an understanding of how to comply with federal, state, and local regulations. Being prepared to handle any situation that may arise while conducting business is very important. This is where this type of training can help you.
Some state regulations require contractors to be HIPAA compliant. If you don’t know what HIPAA is, it’s short for Health Insurance Portability and Accountability Act. According to the Center for Medicare Services (CMS), this is "a federal law that promotes affordable health insurance and promotes quality patient care." As stated on the website for CMS, "many benefits provided by covered entities (healthcare providers) are optional to the customer and are not required to be obtained by the customer if those benefits are not applicable to the particular service or transaction." These optional services include psychotherapy, cancer treatments, alternative medicines, and mental health.
In order to stay compliant, minority owned businesses must adhere to all of the laws and regulations surrounding these programs. One such regulation is the Health Insurance Portability and Accountability Act. According to the Kaiser Family Foundation, this law was designed to "establish guidelines that would guarantee women’s access to quality health care and the freedom to use their own healthcare at the point of care." Another regulation is the HITech Act. According to this act, "hitech" refers to electronic medical billing, and "gaps" are the areas in which electronic billing software is incomplete.
Some companies may choose to outsource their federal contracting work. For example, CareFusion Inc., is one of many companies that outsource their contract fulfillment to EHR companies. According to a recent article on the Mother Jones website, "CareFusion claims it has reduced its intake of new claims for payouts by more than 40 percent since 2021, mostly due to a push to outsource those tasks to EHR companies… The company claims it now spends the same percentage of its revenue on EHR compliance training as it did on its own workforce."
There are also a variety of laws protecting women and minorities when it comes to health issues. For example, the Americans With Disabilities Act (ADA) makes it possible for people with disabilities to gain employment in many industries. Similarly, the HIPAA laws protect individuals from the private health care industry against discrimination. In addition, the Health Insurance Portability and Accountability Act, or HIPAA, requires medical providers to ensure proper protection of patient records. The federal National Health Information Technology Act (HIPAA) makes it possible for private citizens to request privacy regulations for their personal health information.
In order to be successful in these health-care industries, minority and women owned businesses must have excellent management teams. Many small businesses cannot afford to have an ineffective human resources department, or a department that constantly has paperwork going back and forth. The paperwork can become a burden, and that can affect the bottom line. According to the US Bureau of Labor Statistics, health care related businesses employed nearly five million people in 2021. With such a large portion of the population relying on these services, it is important to keep these businesses up to date on the latest practices and technology.
If you own or manage a small business that serves the healthcare industry, it is especially important to have an excellent human resource department. Remember, these are the people who will be dealing with the general public on a daily basis. You will want to provide a safe environment, as well as ensuring that the people you hire know the laws when it comes to privacy issues. In addition to hiring quality employees, it is imperative that you provide them with a good working environment. Minority and women owned businesses are often at a disadvantage when compared to larger competitors because of the small market size, but the healthcare industry offers so many opportunities for growth, especially for those who are women and minority owned businesses.