Don’t Let HIPAA Violations Cost You a Fortune

October 31, 2022

If you’re an IT professional that works with or for an organization covered by HIPAA, there’s a lot that you need to know…including some things that upper management may not be aware of. 

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. Which is why 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.   

A breach usually has multiple issues allowing penalties and fines to add up quickly. Organizations that handle sensitive health data can lose millions. The average global cost of a healthcare data breach is $9.42 million.   

Educate the people you report to about the true cost of a HIPAA breach. It includes not only the fine, but also lawsuits, the costs 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 those affected by the breach. Insurance may not cover all these costs, especially for small-and medium-size organizations. 

HIPAA is just one set of requirements that has some specialized privacy and security components that are unique to a specific industry. But most organizations that are subject to HIPAA have other government or industry standards that apply to them. And nearly all are a party to one or more business contracts and insurance policies with IT requirements.     

Compliance Manager GRC is designed to be a single, unified platform that you can use to help make sure you are in compliance with every IT requirement – regardless of source – 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 helps you provide improved IT security and robust compliance. Our Rapid Baseline Assessment gets you up to speed quickly and helps you 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.