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HIPAA IT Risk Analysis and Risk Analysis What is the difference?

What is HIPAA Risk Analysis and Assessments?

On the date of September 23rd, 2013, any Health Information Privacy and Accountability Act(HIPAA) policies and procedures must be put in motion and become compliant with the government’s new amendments created by the HIPAA Omnibus Rule. Many businesses and its affiliations may no longer be legally compliant with the new regulations for the HIPAA security policies and procedures. In January 213, the HIPAA new charges became final and these revisions went into effect on March 26th, 2013. These final revisions will contain crucial charges that could include: 1) More enforcement; 2) More restrictions 3) Stiffer penalties.

1. Any business entity and its affiliations need to become compliant with these new HIPAA amendment rules and regulations. Some examples would be a health insurance company having to pay a huge fine of 1.7 million dollars, a large pharmacy having to pay a steep penalty of 1.44 million dollars or a large college university having to pay a whopping monetary fine of $400,000. Now the question now is if in fact your corporation can afford stiff penalties such as these examples. HIPAA policies and procedures surround the new HIPAA Omnibus Rule may cover over 200 security information topics that may be essential to a business and some examples are as follows:

1. Computer control access 2. Acceptable users and use of the computer 3. Developments for application software 4. Teams for direct emergency computer response systems 5. Viruses that could affect business computers 6. Planning contingency 7. Labeling and classifications of any data on a business computer 8. The destruction of any data 9. Digital signatures 10. Espionage from an economic standpoint 11. E-commerce 12. Mail sent electronically 13. Communications by any fax transmissions 14. Prevention of spam 15. LAN’s or Local Area Networks

Employers, officers, and any business directors of any business covered entity could also include criminal sanctions and liabilities. These sanctions may be up to $50,000 per incident and the individuals could also receive approximately 10 years in prison. Noncompliance with the HIPAA and HITECH rules is absolutely intolerable. There are hundreds of pages of information regarding these new regulations and amendments. The law is sometimes vague and very complicated but a corporation needs to make sure that their policies cover:

1) 2) 3) 4)

Breach notification Sanction policies Business associate policies; and finally Confidential data policies and procedures. Any corporation needs to ensure that these four things are included in their new updated policies and procedures to become compliant with the revisions. The HIPAA and HITECH rules are very strong and powerful. Compliance with these rules is absolutely crucial to any business entity.

HIPAA Risk Assessment and hipaa Risk analysis are both standard processes for (IT) and information technology. These measures are crucial for a business entity trying to become compliant with efforts for these new revisions of these new security rules. Business entities always need to understand three terms in order to secure proper hipaa Risk analysis and the HIPAA Risk Assessments. The terms are "business risks", "business threats" and “and "business vulnerabilities". Some business steps to ensure proper hipaa Risk analysis and HIPAA Risk Assessment may include: 1. Data gathering 2. Security measures and its current risk assessment evaluations or implication 3. The level of business risk should be immediately determined 4. Security measures need to always be implemented into the business Business Address: The Compliancy Group LLC. 55 Broadway Unit 684 Greenlawn, NY 11740 Phone No:855 854 4722 Fax: 631.731.1643 You Can follow us on Facebook | Linkedin | Twitter |

Hipaa it risk analysis and risk analysis  
Hipaa it risk analysis and risk analysis  

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