HIPAA, the Health Insurance Portability and Accountability Act, was introduced in 1996, to protect sensitive patients' information from being stolen or destroyed. It is now mandatory for any company that deals with protected health information (PHI) to ensure that all administrative, physical, and technical safeguards, policies, and procedures and documentation requirements, and effective risk management are in place and followed diligently.
This process involves covered entities (CE), anyone who provides treatment, payment, and operations in healthcare, and business associates (BA) or anyone with access to patient information and provides support in treatment, payment, or operations. You can also look for the top HIPAA compliance support via https://www.firefoldtech.com/hipaa-compliance/.
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Due to increased use, storage, and transmittal of electronic health information in recent times, HITECH or The Health Information Technology for Economic and Clinical Health (HITECH) Act was introduced, which supports the enforcement of HIPAA requirements by raising the penalties of health organizations that violate HIPAA Privacy and Security Rules.
The fines for non-compliance are heavy with many organizations compelled to pay large amounts as fines. With the HITECH initiation, the standards became stricter and penalties steeper.
Incentives for maintenance of electronic health records also started with the HITECH regulation. This has led to the implementation of standardized and HIPAA/HITECH requirements compliant processes in every healthcare organization in the country.