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Tim Feldman, VP and GM, Healthcare Compliance, Wolters KluwerTim Feldman, VP and GM, Healthcare Compliance, at Wolters Kluwer Legal and Regulatory U.S., is responsible for the Healthcare Compliance & Reimbursement (HC&R) business unit focused on meeting the compliance needs of healthcare providers, payors, device and pharma manufacturers and others in the healthcare arena.“Wolters Kluwer develops products that help healthcare entities stay ahead of regulatory change,” explains Feldman. “We provide SaaS solutions that range from current awareness, like Health Law Daily™, to complete workflow solutions, like ComplyTrack™. We also maintain the deepest archive of primary source regulatory content in the industry, plus treatises, MedLearn titles, cases, and whitepapers developed by our experts. This content is accessible through MediRegs™, our healthcare research platform, or through Cheetah, our award-winning legal research platform. By providing these insightful solutions, wehelp customers build a strong culture of compliance to manage and mitigate risks associated with protected health information (PHI).”
ComplyTrack is a comprehensive compliance solution that connects fragmented processes and information silos information along the entire Governance, Risk Management and Compliance (GRC) continuum by incorporating applications covering incident reporting, issue tracking and management, surveys, IS and risk assessment, audit management, and contract and document management.
We offer the perfect marriage of workflow tools with regulatory and compliance content to deliver a comprehensive and integrated solution
Similarly, Wolters Kluwer has developed a tool—Information Security Assessment Manager (ISAM)— built on the ComplyTrack platform to assess and mitigate privacy and information security risk across the enterprise. ISAM allows CIOs to conduct surveys across multiple individuals, departments or facilities utilizing pre-written question sets. “By asking questions based on common security frameworks, organizations can assess how they stack up to best practices and expectations in a healthcare environment,” describes Feldman. With robust reportingas well as analytical and dash boarding capabilities, ISAM leverages these survey responses to assist in assessing overall IS risk, determine areas that require greatest focus, and manage the action plans necessary to mitigate that risk.
As an example of how Wolters Kluwer assists healthcare organizations to enhance the effectiveness of their business operations, Sunrise Community, a private not-for-profit healthcare organization, adopted ComplyTrack for record creation, investigation, and data gathering/ reporting. ComplyTrack markedly simplified record creation and reporting by automating labor-intensive, multi-step processes while enabling automatic investigation tracking. “Our solution enabled Sunrise to build and maintain a culture of compliance across a multi-state organization,” remarks Feldman.
Wolters Kluwer Legal and Regulatory U.S. addresses the challenge of supporting a culture of compliance by providing a wide range of applications to support all aspects of the compliance workflow in combination with some of the fastest implementation and best support in the healthcare industry. “We offer integrated workflow tools with regulatory and compliance content to deliver a comprehensive and powerful solution,” says Feldman.
Company
Wolters Kluwer
Management
Tim Feldman, VP and GM, Healthcare Compliance, Wolters Kluwer
Description
Provider of information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors helping customers make critical decisions
Wolters Kluwer News
Share Buyback Transaction Details June 15 – June 21, 2023
Wolters Kluwer 2023 Half-Year Report
Wolters Kluwer (EURONEXT: WKL), a global leader in professional information, software solutions and services, today releases its half-year 2023 results.
Highlights
o Guidance for 2023 reiterated.
o Margin to improve for the full year.
o Revenues €2,725 million, up 4% in constant currencies and up 6% organically.
o Recurring revenues (82% of total revenues) up 7% organically; non-recurring down 1% organically.
o Digital & services revenues (94% of total revenues) grew 6% organically.
o Expert solutions (58% of total revenues) grew 7% organically.
o Adjusted operating profit €711 million, down 4% in constant currencies.
o Adjusted operating profit margin down 210 basis points to 26.1%, as anticipated.
o Margin reflects expected increase in personnel costs and investments in innovation.
o Diluted adjusted EPS €2.17, up 6% overall and up 2% in constant currencies.
o Adjusted free cash flow €495 million, down 2% in constant currencies.
o Return on invested capital (ROIC) improved to 15.4%.
o Balance sheet remains strong with net-debt-to-EBITDA of 1.5x.
o Interim dividend €0.72 per share, set at 40% of prior year total dividend.
o On track to complete 2023 share buyback of up to €1 billion.
Interim Report of the Executive Board
Nancy McKinstry, CEO and Chair of the Executive Board, commented: “We delivered 6% organic growth as continued strong momentum in recurring revenues more than offset the anticipated downturn in non-recurring revenue streams. Operating costs and margins developed as expected and we remain confident of delivering a full-year margin improvement. We made important progress towards our strategic goals and are excited about pursuing growth opportunities across the business. Around 50% of our digital revenues are from products that leverage AI and we see generative AI as another powerful tool to drive value for our customers.”
Highlights
o Guidance for 2023 reiterated.
o Margin to improve for the full year.
o Revenues €2,725 million, up 4% in constant currencies and up 6% organically.
o Recurring revenues (82% of total revenues) up 7% organically; non-recurring down 1% organically.
o Digital & services revenues (94% of total revenues) grew 6% organically.
o Expert solutions (58% of total revenues) grew 7% organically.
o Adjusted operating profit €711 million, down 4% in constant currencies.
o Adjusted operating profit margin down 210 basis points to 26.1%, as anticipated.
o Margin reflects expected increase in personnel costs and investments in innovation.
o Diluted adjusted EPS €2.17, up 6% overall and up 2% in constant currencies.
o Adjusted free cash flow €495 million, down 2% in constant currencies.
o Return on invested capital (ROIC) improved to 15.4%.
o Balance sheet remains strong with net-debt-to-EBITDA of 1.5x.
o Interim dividend €0.72 per share, set at 40% of prior year total dividend.
o On track to complete 2023 share buyback of up to €1 billion.
Interim Report of the Executive Board
Nancy McKinstry, CEO and Chair of the Executive Board, commented: “We delivered 6% organic growth as continued strong momentum in recurring revenues more than offset the anticipated downturn in non-recurring revenue streams. Operating costs and margins developed as expected and we remain confident of delivering a full-year margin improvement. We made important progress towards our strategic goals and are excited about pursuing growth opportunities across the business. Around 50% of our digital revenues are from products that leverage AI and we see generative AI as another powerful tool to drive value for our customers.”
Wolters Kluwer launches Small Biz Wiz® for lending data collection requirements
MINNEAPOLIS-- Wolters Kluwer Compliance Solutions has launched Small Biz Wiz®, a system designed to support new requirements in the collection, reporting and analysis of small business lending data. Small Biz Wiz is a significant addition to Wolters Kluwer’s suite of Wiz technology applications, providing financial institutions a powerful new analytics tool for their small business lending portfolio. It joins a family of software offerings that provide critical analytics insights for compliance with Fair Lending, the Home Mortgage Disclosure Act and Community Reinvestment Act regulations.
“Importantly, Small Biz Wiz will foster greater accuracy and speed in our customers’ data collection, processing and analysis efforts, enabling them to focus on higher-level activities while helping them achieve full compliance with the new small business data collection requirements.”
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Small Biz Wiz provides critical functionality for institutions in complying with final regulations issued by the Consumer Financial Protection Bureau (CFPB) that implement amendments to the Equal Credit Opportunity Act under Section 1071 of the Dodd-Frank Wall Street Reform and Protection Act. The solution is built on Wolters Kluwer’s award-winning CRA Wiz® SaaS and HMDA Wiz® platform, enabling an easy-to-use technology that integrates into a financial institution’s data collection processes. Small Biz Wiz supports the collection and reporting of all the small business loan data elements required by the CFPB’s regulation, including application dates, loan amount, pricing information, details about the business, and information about the race, sex, and ethnicity of the principal owners of the business.
Although Section 1071 compliance deadlines are currently stayed as a result of ongoing litigation, preparation for meeting the regulation’s complex requirements remains essential. Wolters Kluwer officials describe the data collection requirements as not just an exercise in gathering and reporting on their small business lending activities, but a key part of the 2010 Dodd-Frank Act focused on promoting fair lending practices.
“Our solution will help institutions comply with a regulation designed to promote fair lending practices in the small business arena, allowing them views not only into possible risks—and where to mitigate those risks—but useful insights on their lending profile and potential growth areas for small business lending,” said Vikram Savkar, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “Importantly, Small Biz Wiz will foster greater accuracy and speed in our customers’ data collection, processing and analysis efforts, enabling them to focus on higher-level activities while helping them achieve full compliance with the new small business data collection requirements.”
Ultimately, the solution provides institutions the ability to manage, monitor, and mitigate their compliance exposure, improve data quality, and maximize lending efficiencies while supporting growth as they look to expand their lending footprints.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Financial & Corporate Compliance (FCC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business. Wolters Kluwer FCC is also home to CT Corporation, a leading provider of registered agent services, incorporation services and legal entity compliance, including the new beneficial ownership requirement for small businesses effective January 1, 2024.
“Importantly, Small Biz Wiz will foster greater accuracy and speed in our customers’ data collection, processing and analysis efforts, enabling them to focus on higher-level activities while helping them achieve full compliance with the new small business data collection requirements.”
Post this
Small Biz Wiz provides critical functionality for institutions in complying with final regulations issued by the Consumer Financial Protection Bureau (CFPB) that implement amendments to the Equal Credit Opportunity Act under Section 1071 of the Dodd-Frank Wall Street Reform and Protection Act. The solution is built on Wolters Kluwer’s award-winning CRA Wiz® SaaS and HMDA Wiz® platform, enabling an easy-to-use technology that integrates into a financial institution’s data collection processes. Small Biz Wiz supports the collection and reporting of all the small business loan data elements required by the CFPB’s regulation, including application dates, loan amount, pricing information, details about the business, and information about the race, sex, and ethnicity of the principal owners of the business.
Although Section 1071 compliance deadlines are currently stayed as a result of ongoing litigation, preparation for meeting the regulation’s complex requirements remains essential. Wolters Kluwer officials describe the data collection requirements as not just an exercise in gathering and reporting on their small business lending activities, but a key part of the 2010 Dodd-Frank Act focused on promoting fair lending practices.
“Our solution will help institutions comply with a regulation designed to promote fair lending practices in the small business arena, allowing them views not only into possible risks—and where to mitigate those risks—but useful insights on their lending profile and potential growth areas for small business lending,” said Vikram Savkar, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “Importantly, Small Biz Wiz will foster greater accuracy and speed in our customers’ data collection, processing and analysis efforts, enabling them to focus on higher-level activities while helping them achieve full compliance with the new small business data collection requirements.”
Ultimately, the solution provides institutions the ability to manage, monitor, and mitigate their compliance exposure, improve data quality, and maximize lending efficiencies while supporting growth as they look to expand their lending footprints.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Financial & Corporate Compliance (FCC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business. Wolters Kluwer FCC is also home to CT Corporation, a leading provider of registered agent services, incorporation services and legal entity compliance, including the new beneficial ownership requirement for small businesses effective January 1, 2024.
Three essential steps to automate data management and reporting for banks
Banking data management: An imperative for compliance and efficiency
Wolters Kluwer As regulatory demands rise, banks face increased pressure to ensure timely, accurate data management and reporting. Automation is no longer a luxury—it's a necessity for staying compliant and competitive.
In this expert guide, Abhishek Varadkar and Swati Kothari reveal three important steps to streamline your compliance process and provide a checklist for selecting a future-ready regulatory reporting solution.
What You’ll Learn:
How to unify disparate data systems for efficient management
Find out how data systems can be consolidated to improve data management in banking, leading to faster compliance reporting.
The role of AI and machine learning in automating regulatory reporting
Explore the role of AI and machine learning in transforming automated regulatory reporting, reducing manual errors, and increasing processing speed.
Why scalable, cloud-ready solutions are critical for future-proof compliance
Our guide details how to improve data management in banking for adapting to evolving regulatory demands.
Unlock the full article.
Ready to dive deeper into these essential steps? Access the full guide to discover how automation can transform your bank’s regulatory reporting and operational efficiency.
Wolters Kluwer As regulatory demands rise, banks face increased pressure to ensure timely, accurate data management and reporting. Automation is no longer a luxury—it's a necessity for staying compliant and competitive.
In this expert guide, Abhishek Varadkar and Swati Kothari reveal three important steps to streamline your compliance process and provide a checklist for selecting a future-ready regulatory reporting solution.
What You’ll Learn:
How to unify disparate data systems for efficient management
Find out how data systems can be consolidated to improve data management in banking, leading to faster compliance reporting.
The role of AI and machine learning in automating regulatory reporting
Explore the role of AI and machine learning in transforming automated regulatory reporting, reducing manual errors, and increasing processing speed.
Why scalable, cloud-ready solutions are critical for future-proof compliance
Our guide details how to improve data management in banking for adapting to evolving regulatory demands.
Unlock the full article.
Ready to dive deeper into these essential steps? Access the full guide to discover how automation can transform your bank’s regulatory reporting and operational efficiency.
• As a part of the share buyback program announced on February 22, 2023, we are currently undertaking repurchases of shares amounting to €1 billion throughout the year 2023.
• Here are the cumulative amounts of shares repurchased under this program to date:
• Period: 2023 to date
• Cumulative shares repurchased in period: 3,736,347
• Total consideration (€ million): 409.5
• Average share price (€): 109.60
• Starting from May 4, 2023, until July 31, 2023, we have enlisted a third party to execute €200 million of buybacks on our behalf, adhering to relevant laws and regulations (especially Regulation (EU) 596/2014) and our company's Articles of Association.
• The repurchased shares are held as treasury shares and will be utilized for capital reduction purposes or to fulfill obligations arising from share-based incentive plans.
• For more detailed information, please visit our website, where you can download the share buyback transactions excel sheet for specific transaction details, access weekly reports on the progress of our share repurchases, and obtain an overview of our share buyback programs.