Top Benefits of HIPAA Compliance

One of the greatest benefits of HIPAA compliance is the certainty that your organization can fight off outside malicious actors from data breaches by ensuring the best possible security. But that is just one of the benefits of HIPAA compliance. From bolstering your organization’s reputation to having a good advantage over your competitors, HIPAA compliance has multiple benefits. That being said, finding the right HIPAA compliance solution is vital in order to simplify your compliance efforts and reduce administrative burden. And with HIPAA Ready – a HIPAA compliance software, your organization can ensure that key avenues of risks are minimized.

Stakeholders trust

Large scale data breaches continue to occur at an alarming rate. These types of breaches can lead to considerable harm that can result in irreversible damage. Maintaining stakeholders’ trust, which includes patients, business associates, and other partners who have access to your organization’s protected health information (PHI), requires robust data security groundwork that focuses on protecting patient data and best HIPAA practices. One of the benefits of HIPAA compliance is the ability to mitigate potential risks associated with a HIPAA violation. Even if a breach occurs, your organization will be able to avoid hefty penalties by ensuring that proper measures were already in place. With HIPAAReady, your organization will be able to identify potential vulnerabilities and risks sooner rather than later, minimizing the score of negative consequences and limiting the impact on your organization’s brand and reputation.

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Ensures best practices for handling patient data

Another major benefit of HIPAA compliance is that organizations can ensure that patient’s privacy and data are protected at all times. As per HIPAA, organizations are required to implement appropriate safeguards to ensure the confidentiality, integrity, and availability of all kinds of PHI. Maintaining HIPAA compliance requires knowing how your PHI is moving through your system, and exactly how and by whom it is being accessed. With HIPAAReady, this whole process becomes simple. Through this software, authorized users can implement access controls and proactively monitor how and by whom devices containing PHI are being used.

Greater profitability

Non-compliance is very costly. It can lead to potential HIPAA violations and result in hefty fines and corrective actions. One of the major benefits of HIPAA compliance is the confidence of knowing that your organization won’t be subjected to hefty fines and corrective actions. Corrective actions can take many forms and each process can have significant monetary costs associated with them. It may require a system-wide overhaul or extensive training and retraining of what is necessary for employees. Either way, these costs can greatly affect your organization’s profitability. That being said, with HIPAAReady, your organization will be able to save extra resources that are needed to ensure compliance. For instance, hiring a consultant to perform a risk assessment can cost up to $1500 to $2000 per day. With our software, you will be able to perform risk assessments and internal audits yourself and save valuable time and resources.

Reap the benefits of HIPAA compliance with HIPAAReady

The reality is that many organizations rely on antiquated solutions and processes that are slow and inefficient. Organizations need robust solutions to keep up with today’s environment and challenges. With HIPAAReady, you will be able to simplify the overall HIPAA compliance process and reduce administrative burden. This robust HIPAA compliance solution enables employers to easily deploy training for their employees and get access to all updated HIPAA related information. From implementing policies and procedures to regularly performing risk assessments, HIPAAReady can ensure your organization reaps the maximum benefits of HIPAA compliance.