Potomac River Partners

Potomac had an insightful time last week at the Compliance Congress for Specialty Products. A key highlight was the new DOJ Guidance on AI-related risk management in their Evaluation of Corporate Compliance Programs, which has important implications for life sciences companies.   The Guidance signals the DOJ now expects companies to proactively manage AI risks, including human oversight and vulnerability to AI-driven fraud, such as false approvals. For life sciences firms, this means taking a proactive stance—not just complying with regulations, but actively communicating issues as they arise. Additionally, the DOJ emphasized its focus on data—tracking financial flows and investigating irregularities, which could signal deeper compliance issues.   This shift is in response to Deputy Attorney General Lisa Monaco’s directive to address the growing potential for AI abuse in compliance frameworks. Prosecutors will not only examine how companies deploy AI in fraud detection and compliance but will also scrutinize whether employees are adequately trained on using AI and the associated risks.   As these standards evolve, we continue to stay informed and help life sciences companies understand these critical developments.   #Potomac #Lifesciences #Compliance #SpecialtyCompliance2024 #DOJ #AI

The Compliance Congress for Specialty Products is only two weeks away! President Jonathan Wilkenfeld, Senior Director, Adam Oakley, and Consultant, Cortney De La Rosa, will be attending from the Potomac team.   While we aren’t presenting this year, we're eager to be back in Boston and expand our knowledge on compliance topics for specialty pharmaceutical companies. We look forward to another productive and informative conference. We hope to see you there!   #Potomac #Compliance #Lifesciences #SpecialtyCompliance2024

The Potomac team wishes everyone a happy and relaxing Labor Day!   We’re grateful for the hard work and commitment of our employees, partners, and clients that contribute to our team’s happiness and success.   We hope you’re able to spend a wonderful extended weekend celebrating the unofficial end of summer with friends and family. Cheers! #Potomac #Compliance #Lifesciences

Potomac had an excellent few days attending the Informa Transparency, Aggregate Spend, & HCP Engagement Conference this month. It was wonderful to reconnect with familiar faces and meet new contacts in transparency and HCP engagement.   We’d also like to offer a big thank you to everyone who attended our Open Payments mock audit workshop, led by Potomac President Jonathan Wilkenfeld and Transparency Lead Graham Rich, Brian Bohnenkamp, Partner at King and Spalding, and James Accumanno, VP at Karyopharm Therapeutics.   In case you missed our session or would like a copy of the presentation, visit the Potomac Thinking page of our website linked below in the comments. 👇   If you attended our mock audit workshop or have experienced a CMS audit firsthand, we’d love to hear from you in the comments! #Potomac #Compliance #Lifesciences #Auditing #Monitoring

The Compliance Congress for Specialty Products kicks off in a month! Potomac President Jonathan Wilkenfeld, Senior Director, Adam Oakley, and Consultant, Cortney De La Rosa, will be attending.   We're excited to be back in Boston, learn about and share recent compliance trends for specialty pharma, reconnect with old friends, and meet new contacts.   We hope to see you there!   #Potomac #Compliance #Lifesciences #SpecialtyCompliance2024

As we near the end of summer 2024, we’d like to take a moment to thank our summer interns, Joshua Kim and Paul Koumbourlis, for their hard work and contributions to Potomac over the past few months! Josh and Paul worked on individual projects as well as a joint project throughout the summer. Josh spent time developing new knowledge management strategies as our intellectual capital continues grow. Paul planned a refresh of Potomac’s conference and exhibit booth presence. Jointly, they researched options and provided recommendations to help streamline internal processes for the Potomac team. On all three projects, Josh and Paul provided helpful insights and excellent foundations for end-of-year 2024 objectives.   It was a pleasure working with both of you this summer. We wish you the best of luck going into your last year of college!   #Potomac #Compliance #Lifesciences

Potomac will be at the Informa Transparency, Aggregate Spend, & HCP Engagement Conference starting tomorrow. We're excited to reconnect with old friends, meet new experts, and learn something new.   As a reminder, our President Jonathan Wilkenfeld is moderating a Mock CMS Audit session with Brian Bohnenkamp, Partner at King & Spalding, James Accumanno, Chief Compliance Officer at Karyopharm, and Graham Rich, Potomac Transparency lead, on Thursday, August 15, at 9am. Together they’ll walk through preparation for, receipt of, and response to a CMS audit, as well as managing the audit scope and findings from the perspectives of the CMS auditor, the compliance function, the transparency team, and outside counsel. We hope to see you there!   #Potomac #compliance #lifesciences 

Continuing our Employee Spotlight series, this month we acknowledge and appreciate the contributions of our team member: John McCrossan!   John joined Potomac in 2020. John manages client and internal workstreams in our Training and Communications service lines, including development of our monthly compliance news summaries. He enjoys bringing complex compliance concepts to life in creative and engaging formats. John consistently shows an acute attention to detail, and the professionalism and discretion he shows in his work help to build lasting client relationships.   It's a pleasure to work with you, John. Keep up the great work! #Potomac #Compliance #Lifesciences

The Informa Transparency, Aggregate Spend, & HCP Engagement Conference is two weeks away! Potomac will be there, will you?   Join us on Thursday, August 15, at 9am, when Potomac President Jonathan Wilkenfeld will host a Mock CMS Audit with Brian Bohnenkamp, Partner at King & Spalding, and James Accumanno, Chief Compliance Officer at Karyopharm Therapeutics.   #Potomac #Compliance #Lifesciences

Last week, the Potomac team gathered for our third quarterly meeting of 2024. We used the time to reconnect, align on goals and objectives for the second half, and celebrate our Q1 and Q2 accomplishments.   Each team meeting, we highlight one team member for their particularly outstanding performance in the previous quarter. Congratulations to this quarter’s high-five award recipient, Taylor Wilson! Taylor is one of our newest Associates and provides support across all Potomac service lines. Taylor is eager to learn, consistently steps up to help other Potomac team members, and reflects our values of Integrity, Accountability, Professionalism, and Discretion in her day-to-day work. Great work so far this year, team! Let's keep it up.   #Potomac #Compliance #Lifesciences