If you are a HIPAA Covered Entity or Business Associate you fall under the HIPAA regulations and you are required to implement a HIPAA compliance program. Too many healthcare organizations think of HIPAA as just another government regulation which limits their revenue and drives up their expenses. Generally, we see this attitude when organizations do not really understand the intent behind the HIPAA regulations.
HIPAA is based on the premise that the privacy and security of medical records are considered a civil right. HIPAA regulations are designed to protect that right.
But beyond basic respect for a patients’ rights, HIPAA compliance is important for your business for several reasons. A patient data breach will have serious, costly consequences in both time and money. Compounding this, an organization which experiences a breach and is found to have been non-compliant may face heavy willful neglect fines.
A properly implemented HIPAA compliance program will increase your overall cybersecurity and decrease the risk of incurring an expensive data breach. Protecting a business from cybersecurity threats can be challenging but HIPAA provides a methodical, structured framework to deal with it.
While a properly implemented and maintained HIPAA compliance program cannot prevent a breach, it will minimize the possibility of a breach and lessen the imposition of fines and penalties if one occurs. Unfortunately, a breach of more than 500 records must be reported to the government and local media, with subsequent harm to your reputation and potential resultant loss of patient revenue.
HIPAA compliance can help you avoid this. The cost of compliance will always be far less than the costs of a breach.
If you have questions about HIPAA or would like a complimentary HIPAA Compliance Review for your organization, please contact us.