Page 152 - Forbes - USA (October 2019)

PROMOTION

WHAT CAN GO WRONG? • In 2018, the U.S. Securities and THE BENEFITS OF
News headlines indicate that a variety ([FKDQJH &RPPLVVLRQ 6(& ETHICS & COMPLIANCE
of new business risks are surfacing reported that its “whistleblower (&,ŖV UHVHDUFK VKRZV WKDW HWKLFV DQG
daily. And with those risks comes program” had collected over $1.7 compliance programs can help mitigate
the potential for misconduct. In fact, billion in sanctions since its inception. the risk of noncompliance in an organi-
WKURXJK LWV *OREDO %XVLQHVV (WKLFV • In 2018, while the number of corporate zation. Regardless of its size or industry,
6XUYH\ *%(6n ŔD ORQJLWXGLQDO VWXG\ non-prosecution agreements and when an organization establishes a com-
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on average, 47% of employees observe in the U.S. stayed the same, “the RQ UHJXODWRU\ VWDQGDUGV RU WKH ODZŔWKHUH

misconduct each year. Not all of those monetary recoveries skyrocketed to DUH PHDVXUDEOH EHQHŻWV $FFRUGLQJ WR WKH
issues lead to enforcement action, but nearly $8.1 billion,” reported the law *%(6 VXUYH\ HPSOR\HHV DUH

the consequences can be severe when ŻUP *LEVRQ 'XQQ
they do. For example:

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reported enforcement actions, that
three companies paid a total of $583
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• In 2018, based on the U.K.’s Serious standard of integrity to truly mitigate
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consultancy.uk reported triple the the risk of wrongdoing.”
number of raids executed in 12
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highest frequency in six years.”

Healthcare Delivered

From An Ethical Culture

Working to improve the lives and healthcare of the more than 78 Anthem’s core values.
PLOOLRQ SHRSOH $QWKHP VHUYHV WKURXJK LWV DIŻOLDWHG FRPSDQLHV “Anthem’s mission is that

is a role that comes with steep responsibility. And it’s one that we are working to improve
Anthem goes to great lengths to accomplish with care. lives and communities,
“We don’t take lightly at Anthem how critical health plans and simplifying health-
and healthcare are for people,” says Sarah Lorance, Anthem’s care, and expecting more,”
693 DQG FKLHI FRPSOLDQFH RIŻFHU Ř:H HQVXUH HDFK DVVRFLDWH LV Lorance says. “It really is

empowered to do what’s right.” evidence that ethics and
+HDOWKFDUH LV D KLJKO\ UHJXODWHG LQGXVWU\ŔWKHUH DUH ORWV RI compliance have to be a
rules and guidelines in place to protect customers. But there’s a cornerstone in everything
difference between simply following regulations and behaving we do.”
ethically. At Anthem, leaders have taken steps to build a culture There’s third-party evi-
where employees aren’t simply checking boxes, but actively dence, too. In 2018, Anthem SARAH LORANCE

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Anthem
ideas and beyond. FRYHWHG :RUOGŖV 0RVW (WKLFDO
To accomplish this goal, Anthem executives developed a set of &RPSDQLHV OLVW
VWDQGDUGV IRU HWKLFDO EXVLQHVV FRQGXFW DQG WHUPHG LW Ř7KH &RGH ř That recognition was no small honor, but for Lorance, another
Ř,Q ŕ7KH &RGHŖ ZHŖUH SURYLGLQJ FOHDU JXLGHOLQHV IRU ZKDW ZH measure meant even more: A recent internal survey, completed
mean when we say ‘act morally’ and ‘act with integrity,’ and how in partnership with an external partner, reports that Anthem
we carry out our accountabilities in serving our members,” says associates feel they’re part of an ethical culture.
Lorance. “Anthem associates rate our culture of integrity higher than
The expectation for ethical behavior spans every level of the benchmark an external partner provides,” she says. “It’s great
Anthem’s organization. In fact, the company’s mission is built to have external recognition, but equally as important for me is
around doing what’s right, with integrity defined as one of that our internal associates really feel our culture of integrity.”

2 | ETHICS & COMPLIANCE