Risk Analysis and Risk Management are required by HIPAA but also make good business sense for any practice. p

Risk Management helps you:

  • Reduce risks to your practice and patients
  • Prevent or reduce the chance of data breaches
  • Minimize potential penalties and fines, which can run into hundreds of thousands of dollars
  • Minimize the risk of privacy breach lawsuits which can cost millions, or cause you to close your practice
  • Protect your reputation and brand

HIPAA Provides Flexibility

The HIPAA Security Rule does not require that you use a specific method or vendor to safeguard PHI, nor does it say that you must eliminate every risk to PHI in your practice.

But HIPAA does require that you implement security measures “reasonable and appropriate” for your office. Apply the best safeguards for your needs, taking into consideration factors such as costs, size and complexity of your practice, types of activities involved, technical capabilities, and probability or impact of potential risks.

Once you’ve completed your Risk Analysis, you’re in a better position to make these choices for your Risk Management plan.

The HIPAA Security Rule is a Blueprint to Prevent Cybersecurity Incidents

Cybersecurity is growing concern for all types of businesses around the world, but healthcare is in the crosshairs. Cyber criminals want to steal PHI because it’s so valuable – they can sell it on the black market or the dark web at a much higher price than credit card data or social security numbers alone. Illegal hackers use phishing, attack unpatched software, and attack with malware to gain access and steal data. Nightmare scenarios include EHR downtime, service cutbacks or suspension. Patient care suffers. Ransomware demands are common once the hacker obtains and locks your data.

By following the HIPAA Security Rule, you’ll learn all the latest best practices recommended by the FBI, the NSA and Cybersecurity and Infrastructure Security Agency (CISA), the top cybersecurity experts in the world. The HIPAA E-Tool® also contains all the requirements and standards recommended by NIST (the National Institute of Standards and Technology).