Get to know about the HIPAA risk assessment

The Health Insurance Portability and Accountability Act of 1996, better known as HIPAA, affects more than just insurance companies. Several establishments, including doctors, hospitals and pharmacies, must conformto HIPAA guidelines. One of the most important aspects regarding HIPAA is a risk assessment. This is why the Centers for Medicare & Medicaid Services (CMS) has developed a rule titled “Security Standards for the Protection of Electronic Protected Health Information”, commonly known as the Security Rule.

All Electronic Protected Health Information (ePHI) is subjected to the Security Rule and companies who are required to follow HIPAA guidelines must implement security practices to protect this information. The Security Rule requires the evaluation of risks, threats and vulnerabilities, and the implementation of policies and procedures to address them. In order to identify the areas that pose a threat, organizations must develop the proper security processes.

Whether a threat is intentional or unintentional is irrelevant, the main focus should be compliance with HIPAA regulations. CMS developed basic steps to help with risk analysis and risk management. While this approach is not required, the following steps can help organizations develop a basic risk analysis. First, it is important to pinpoint the areas to be analyzed and begin gathering relevant data. This will provide structure to the analysis. Next, it is time to recognize and document any risks, threats, or vulnerabilities; once this is completed it’s time to evaluate security measures already in place. This will help to determine the likelihood of a security breach. The final steps include discovering the potential impact and level of risk, and deciding where to implement security measures.

Once a risk analysis has been completed, it’s time to develop a risk management strategy. Common steps to address risk management include creating a risk management plan to provide structure when implementing security measures. Once the plan is in place, it’s time to employ the necessary security measures. Finally, continuous evaluation of these measures is vital in maintaining security.

Risk analysis and management is an integral part of HIPAA risk assessment and compliance. CMS has provided extensive information on their website to help companies develop a plan of action specific to their own individual needs, while at the same time following the Security Rule to protect all ePHI and other documents falling under HIPAA guidelines. The steps recommended by CMSprovide a basic approach to effectively manage any threats or risks a company may encounter.

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