Health Information Management

Money, money, money: Privacy breaches get costly

HIM-HIPAA Insider, September 1, 2009

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The cost of a privacy breach far exceeds any fines authorized by the Health Information for Economic and Clinical Health (HITECH) Act.

The new law’s escalating scale of fines for healthcare providers whose HIPAA violations lead to privacy breaches makes its emphasis on compliance unprecedented. But hospitals should have begun focusing on the potential loss that can follow in the wake of a privacy breach long ago.

"The new rules will cost you $500–$50,000 per violation depending on its severity and intent," says Christopher T. Pierson, Esq., PhD, senior vice president and chief privacy officer at Citizens Financial Group in Providence, RI. "But the actual cost of dealing with a privacy breach could cost you millions of dollars."

To read more about privacy breaches or to purchase a copy of this article for $10, visit the HCPro Web site. Subscribers to Health Information Compliance Insider have access to this article in the September issue of the newsletter.



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