Why Is Being HIPAA Compliant So Important?

Every industry requires a governing body that sets the standard operating procedure (SOP). These operating procedures ensure a safer use of products, services, or information. HIPAA is an act that deals with a patient’s confidentiality of information. To keep the sensitive data in safe hands, the healthcare industry follows the Health Insurance Portability and Accountability Act.

How It Affects You?

There are two aspects to being HIPAA compliant. It has a privacy rule and a security rule, both of which work hand in hand. Here is how it matters to you as an individual.

Entire History

Did you know that your medical report consists of a wide range of information beyond the medical issues? This is enough for someone to use it for fraudulent activities in the case it gets disclosed. HIPAA applies physical and technical safeguards to protect such crucial information.

Spokesperson

In the case that a patient is impaired and cannot advocate their case, someone else can speak on their behalf. This spokesperson is chosen by you. You have the authority to designate one, or more than one people, who represent you when you cannot communicate.

Impact on Healthcare Industry?

While HIPAA protects an individual/patient’s information, keeping it safe, it also poses great monetary benefits for the healthcare industry. It saves billions of dollars annually for healthcare providers that would otherwise be invested for the safety of information. This is majorly due to the savings from compliance costs.

Do You Need HIPAA Compliance?

Not all businesses need to be HIPAA compliant, but being one adds to the authenticity of your business. On the other hand, healthcare providers that deal in electronic transactions need to be compliant. Furthermore, other organizations offering healthcare plans should also be in compliance with HIPAA.