Every provider knows that healthcare IT compliance is essential, in order to avoid regulatory penalties. But did you know it can also provide a significant return on investment (ROI)? The true benefits extend much further than most organizations know. If you ignore compliance, you are not only risking legal consequences – you’re also losing efficiency and increasing risk.
So let’s discuss how IT compliance for healthcare benefits your organization, and how you can implement it effectively.
What is IT Compliance?
Compliance is your ability to obey relevant laws, regulations, and standards. In IT, this typically means your technological infrastructure must be secured against cyber-attacks. The most well-known example for healthcare providers is the Health Insurance Portability and Accountability Act (HIPAA), which mandates certain protections for protected health information (PHI).
Business Benefits of Compliance
Preventing legal problems is only one reason to invest in compliance. Here are some of the lesser known positive outcomes you can expect:
Fewer Data Breaches
The first and most obvious benefit of strong healthcare IT security compliance is fewer breaches. By adopting advanced solutions and following best practices, you better equip your organization to address security risks and protect patient data. This results in a ripple effect that prevents a number of negative outcomes and improves your overall chances of success.
Stronger Business Continuity
Cybersecurity threats such as ransomware attacks shut down your operations, resulting in hours of unexpected downtime. This throws your organization into chaos, and can even endanger lives. Regulatory compliance helps prevent this from two angles: by stopping breaches from occurring, and by making it easier to recover when they do. The result is an organization that can keep caring for patients, no matter what happens.
Greater Efficiency
When security is strong, downtime decreases and staff spend less time investigating potential breaches. You are also less likely to be impacted by malware that slows down your systems. In the healthcare industry, where fast and efficient care is essential, this provides a much-needed productivity boost.
Lower Costs
Data breaches and legal penalties are expensive. Lost patient trust exacerbates the problem. Strong healthcare cybersecurity protects you from these unexpected costs, reducing budgetary strain and allowing you to spend funds elsewhere.
Improved Trust
Electronic health records (EHRs) are sensitive, and patients expect you to treat them with care. By demonstrating a consistent commitment to their personal safety, you build trust with patients. This makes them more likely to return in the future, and provide accurate information.
Proactive Compliance Strategies That Lower Costs
Compliance is often seen as a necessary but unfortunate expense. This is far from the truth. In fact, there are a number of strategies that can actively reduce costs:
1. Regular Risk Assessments
Risk assessments help you identify vulnerabilities early, allowing you to address them before an attack can occur. You can select effective solutions in your own time and for the best possible price, rather than racing against an active threat and being forced to choose the first one you find.
2. Documentation & Policy Management
Clear, regularly updated policies help ensure that everyone understands and obeys the rules. Consistent documentation of compliance activities holds employees accountable, while also making it easier to argue your case should the Department of Health perform an audit. This significantly lowers your risk of fines.
3. Staff Training & Access Controls
Many breaches occur as the result of human error. Regular training (at least once per year, supported by monthly reminders) helps employees make the right decisions. Role-based access controls (RBAC) ensure that even when someone does make a mistake, the consequences on your organization will be less devastating.
4. Automated Monitoring
Continuous monitoring is crucial to catch threats early and respond effectively. But in healthcare, it can be difficult to balance with patient care. AI-powered solutions automate this process, allowing healthcare workers to focus on their jobs and reducing staffing costs.
5. Hire Outside Help
IT compliance consulting for healthcare might seem like a waste of money, but this is a misconception. Third-party experts charge far less than hiring the same expertise in-house, and provide access to a full team. With IT compliance consulting for healthcare, compliance becomes easy.
Providers using cloud-based solutions should also consider this approach. The cloud offers tantalizing benefits, but also introduces additional risk. Cloud IT service providers for healthcare compliance handle data protection, so you don’t have to.
Build Compliance Into Your Growth Strategy
Compliance shouldn’t just be a task you complete to avoid fines. Used right, it provides a powerful competitive advantage. Whether you need to lower costs, increase efficiency, or prevent downtime, compliance helps you get there. Devote the necessary time and effort now, and you’ll thank yourself in the future.
Not sure what’s expected of you? That’s okay. At Ascentient, we specialize in helping healthcare organizations meet their obligations and ensure a profitable future. Learn what you have to do – and how to do it – now.
FAQs
What is Healthcare IT Compliance?
Healthcare IT compliance is your ability to adhere to rules and regulations that govern your industry, particularly in regards to your technological infrastructure. One example is HIPAA, which requires covered entities to abide by strict data security protocols.
What Are the Benefits of Compliance for Healthcare Organizations?
Compliance prevents legal penalties, lowers costs, builds trust, improves continuity, and ultimately improves efficiency.
How Does Compliance Reduce Costs?
Compliance reduces costs by preventing unnecessary downtime and fines. It also improves productivity and patient relationships, which indirectly increases profits.
How Can We Ensure Compliance?
Ensuring compliance is easier than you might think. The key is regular reviews that examine your requirements and identify any gaps. Once you have this information, you can work to address problems and ensure full compliance.
Are IT Consultants Worth It?
IT consultants can be very valuable. They understand the regulations you must follow, and can provide advice on how best to achieve your goals.