Today, cyber-attacks and incidents of data breaches have become very common. While organizations try their best to keep up with the evolving threat landscape, it is yet not enough to ensure 100% security of critical data and assets. More so, in the healthcare industry which is a treasure trove of sensitive PHI data, healthcare organizations are increasingly becoming the soft target for hackers.
Addressing this growing concern, the Health Insurance Portability and Accountability Act (HIPAA) was introduced and enforced to protect patients’ health information against unauthorized access and data theft. So, organizations in the healthcare industry are expected to comply with HIPAA regulations and ensure the protection of PHI data while also preserving the rights of patients.
The HIPAA compliance comprises of 5 key components including the HIPAA Health Insurance Reform, HIPAA Administrative Simplification, HIPAA Tax-Related Health Provisions, Application, and Enforcement of Group Health Plan Requirements, & Revenue Offsets. Let us today learn about the 5 components a bit in detail to understand the HIPAA regulation better.