Get your organization on the fast track to Health Insurance Portability
and Accountability Act (HIPAA) compliance.
What is HIPAA compliance?
HIPAA compliance is a process that business associates and covered entities follow to protect and secure Protected Health Information (PHI) as prescribed by the Health Insurance Portability and Accountability Act. HIPAA compliance involves a set of regulations that organizations must follow to ensure the confidentiality, integrity, and availability of PHI. Also, Some of the key requirements of HIPAA include implementing physical, administrative, and technical safeguards to protect PHI, training employees on privacy and security policies, conducting risk assessments, and ensuring that patients have access to their PHI upon request. Organizations that are not compliant with HIPAA may face significant penalties, including fines and legal action. So, it is important for covered entities and business associates to take the necessary steps to ensure compliance.
What are the risks if you are not HIPAA compliant?
Legal Penalties: Companies that are not HIPAA compliant may face significant financial penalties, ranging from $100 to $50,000 per violation, up to a maximum of $1.5 million per year for each violation. Reputational Damage: HIPAA violations can damage a company's reputation, resulting in loss of business, decreased customer trust, and negative publicity. Breach Notification Costs: If a breach of PHI occurs, companies may incur significant costs associated with breach notification and mitigation, such as providing credit monitoring services to affected individuals. Civil Lawsuits: Individuals affected by a breach of PHI may also file civil lawsuits against the company. Seeking damages for the harm caused by the breach. Criminal Penalties: In some cases, HIPAA violations can result in criminal penalties, including fines and imprisonment. Loss of Business: Companies that are not HIPAA compliant may be disqualified from participating in certain healthcare programs or lose business opportunities with partners that require compliance as a condition of doing business.
What are the 5 HIPAA rules?
The Privacy Rule: This rule establishes national standards for protecting the privacy of individually identifiable health information (PHI). It gives patients the right to access their PHI, control how their PHI is used and disclosed and sets limits on how PHI can be used for marketing and fundraising purposes.
The Security Rule: This rule establishes national standards for protecting electronic PHI (ePHI) that is created, received, maintained, or transmitted by a covered entity or business associate. So, it requires covered entities and business associates to implement administrative, physical, and technical safeguards to ensure the confidentiality, integrity, and availability of ePHI. The Breach Notification Rule: This rule requires covered entities and business associates to notify affected individuals. The Secretary of Health and Human Services, and in some cases, the media, of a breach of unsecured PHI. Also, the notification must be made within a specific time frame and must include specific information about the breach.
The Omnibus Rule: This rule modified the HIPAA Privacy, Security, and Breach Notification rules. To implement changes required by the Health Information Technology for Economic and Clinical Health (HITECH) Act. As well as other provisions of the Affordable Care Act.
The Enforcement Rule: This rule sets forth the procedures for investigations, hearings, and sanctions for non-compliance with HIPAA regulations.
How can Careful Security help you?
Careful Security can help you gain HIPAA compliance and ensure you remain compliant. The careful Security team will work closely with your team. So, ensure that you have the necessary controls in place to secure any sensitive data. Also, we have helped clients become SOC2 and ISO 27001 certified as well. So, we know the ins and outs of the audit process.