16 May Compliance Management Helps Cure HIPAA Regulation Anxiety
If you’re an IT professional that works for an organization covered by HIPAA — or you’re an MSP with clients who are covered –there’s a lot that you need to know…including some things that the executives within these organizations are not aware of!
HIPAA standards require covered organizations to have IT security and privacy measures in place to protect health information and provide evidence that these standards are followed.
Health providers are moving to increased automation and computerized operations, including computerized physician order entry (CPOE) systems, electronic health records (EHR), and radiology, pharmacy, and laboratory systems. This makes HIPAA compliance even more important than ever.
All of these electronic methods dramatically increase the security risks of patient healthcare data breaches.
A breach usually has multiple issues and penalties add up. Organizations that handle sensitive health data can lose millions. The average global cost of a healthcare data breach is $9.42 million.
Make sure the people you report to know the cost of a HIPAA breach not only includes the fine, but also lawsuits, the cost of hiring third-party IT specialists to investigate the breach, the cost of repairing public confidence in the medical practice, and the cost of providing credit monitoring services for patients. Insurance may not cover all these costs, especially for small-and medium-size organizations, which has led to the closure of smaller medical practices.
HIPAA is just one set of requirements that has some specialized privacy and security components that are unique to the healthcare sector. But most organizations that are subject to HIPAA have other government or industry standards that apply to them. And if not that, nearly all are a party to one or more business contracts and insurance policies with IT requirements.
And, if you have no external forces demanding compliance with specific IT requirements, then you certainly must have your own set of IT security best practices that you follow.
Compliance Manager GRC is designed to be a single, unified platform that you can use to be sure that you are in compliance with every IT requirement – regardless of source(s) and that you can easily assess your level of compliance, manage any gaps, and automatically generate the necessary documents you need…all at the same time and in the same place.
You don’t need additional headcount or prior knowledge of industry or regulatory standards. Compliance Manager GRC can put you in an excellent position to provide improved IT security and robust compliance. Our Rapid Baseline Assessment will help you get up to speed quickly and demonstrate the need and value of compliance to any audience, whether for your organization’s upper management or for MSP clients or MSP prospects.
To find out more, click here to get a custom demo from our knowledgeable experts.