HIPAA compliance & why businesses need it?

By Shamili Jayapal, Dhivya Dharmasamy | March 6, 2019

HIPAA Compliance helps businesses that process healthcare information to prevent a data breach and security issues by implementing straightforward, established systems for handling sensitive information.

What is HIPAA?

Health Insurance Portability and Accountability Act (HIPAA), the United States rule intended to give security principles that ensure your protected health information (PHI) is maintained safe and comfortable. It tells how healthcare providers and associated businesses need to handle and protect your health records, and provides the standards to make certain PHI records saved, treated and accessed properly.

Why Businesses need HIPAA?

The healthcare business is continuously evolving to satisfy federal necessities for electronic PHI maintenance, transmission and storage. Today’s healthcare corporations are choosing HIPAA-compliant partners that lessen the threat of PHI breaches, meanwhile reduce network complexity, offset capital charges and improve community agility to deliver higher health care services at lower cost.

Around 70% of healthcare associations are now using a SaaS service in their work process, with nearly 90% of healthcare providers saying that they can see a future use for SaaS in their association.

HIPAA Compliance utilization helps advertise yourself to attract new clients.

  • Most of the Covered Entities (Health care providers) and healthcare facilities are now using electronic health records (EHR). These organizations require HIPAA compliance for any cloud service they use.
  • Business associates who process PHI and Third party healthcare solutions will be able to market themselves as business associates.

Stay out of penalties

The penalties for violation are based on the level of negligence and might range from $100 to $50,000 constant with a violation, with the highest penalty of $1.5 million constant with a year for violations of an equal provision. Violations can also cause criminal charges that may bring about prison time.

Major advantages of HIPAA Compliance

  • Complying with HIPAA guidelines will construct believe with your client base and improves customer satisfaction.
  • Minimizes sensitive data breaches, decreases medical faults and security issues.
  • Develops a habit of compliance and knowledge of handling healthcare information.
  • HIPAA Compliance will assist your organization to avoid legal risks and penalties. It’s better to follow information security and avoid a breach together.
  • Complying makes a huge positive impact on your business, increases the organization’s reputation.

Data security is the immune system for a healthy business.