You may be under the impression that complying with HIPAA regulations is overly complicated and expensive. But the reality is that HIPAA compliance is actually 80% operational and facilities management, and only 20% technical. And when compared with the costs of non-compliance, the additional expense of complying with HIPAA is relatively low.
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The Health Insurance Portability and Accountability Act (HIPAA) of 1996 is a comprehensive law that drives the development of electronic data interchange (EDI) for specified administrative and financial healthcare transactions. HIPAA’s intent is to improve the efficiency and effectiveness of the healthcare system, by encouraging the use of health information systems that utilize EDI for administrative and financial transactions. It requires that all parties involved with these transactions follow the guidelines established in the law
Why is HIPAA Compliance important to you?
- Federal privacy and transaction standards have already taken effect.
- Your organization benefits from improved workflow and more efficient patient flow.
- Competitive market advantage.
- Increased patient satisfaction.
- Civil and criminal penalties for non-compliance impact your reputation and your bottom line.
- Patient confidentiality is important, ethical and “the right thing to do.”
PMBC team of compliance professionals can help your organization develop and implement HIPAA compliance through cost-effective operational improvements. By conducting a preliminary analysis of your workflow and systems, PMBC can determine HIPAA’s potential impact on your organization, and provide the following:
- Detailed assessment and status report.
- Identification of organizational deficiencies and vulnerabilities.
- Implementation plan, timeline and cost assessment for establishing compliance.
- Risk analysis and assessment.
- Self-assessment tools.
- Gap analysis.
- Education and management assessment.
- Remediation plan Integration of transaction standards, codes sets and unique identifiers.
- Privacy strategy development.
- Health information uses and disclosure assessment.
- Development of HIPPA compliance strategy plan.
- Awareness and training.
- Medical records compliance review.
- IT infrastructure readiness audit.
Organizations that fail to comply with HIPAA requirements can face lawsuits, as well as steep civil and/or criminal penalties. Civil penalties can total as much as $25,000 per year for each requirement that is violated. Criminal penalties can reach $250,000 and/or ten years in prison. Compared to the potential penalties for non-compliance, the cost of implementing HIPAA is relatively small. HIPAA regulations and requirements are final and are being enforced. Is your organization in compliance? For more information about our HIPAA compliance services and programs, call 623-322-7436 or email firstname.lastname@example.org. Posted in Our Services