Disclosed here are devices and methods for treating functional tricuspid valve regurgitation and related conditions. Disclosed devices are adapted for applying force to an area of a patient's heart along or near the atrioventricular groove, and can include a tensioning element configured to be delivered by a flexible member guided through a catheter and positioned generally along or near the atrioventricular groove, and a compression member positionable along the tensioning element and over a desired segment of the atrioventricular groove to develop force to be applied to an adjacent area of the heart by selective tensioning of the tensioning element.