HIPAA Risk Analysis Prevents Violations & Penalties

A risk analysis is the first security requirement of HIPAA. The government is cracking down on organizations who fail to complete risk analyses. Not performing a security risk analysis was one of the biggest compliance failures of the government’s audit program. Nearly two-thirds of entities audited were found to have no complete or accurate risk analyses.

The government is now issuing stronger fines for breaches by companies lacking an up-to-date risk analysis. By performing a HIPAA risk analysis you will lessen your risk of a HIPAA breach and lessen the government-issued fines.

Risk analyses should be performed as new technology and business operations are planned and implemented. A minimum standard is running one every three years.

The government recommends having risk analyses performed by a third-party vendor to ensure objectivity and thoroughness. If done properly, a risk analysis will help you prevent HIPAA breaches and thus impromptu audits by the government.

Conducting a formal risk analysis could require days and multiple employees. GRA Benefits Group PHI365 HIPAA Compliance service only requires 1-2 hours of your time to complete our analysis.

The compliance experience can be overwhelming and daunting. Working with the PHI365 team makes the process simpler and less time-consuming.

Contact us to learn more.