Managed Compliance Services – Healthcare Compliance solutions
The Healthcare industry has been hit hard during the COVID-19 pandemic. Healthcare services are facing a battle between overwhelming demands and increased cyberattack. In 2020, healthcare was the worst affected industry by cybercrimes.1
Beyond 2021, it is projected that this trend of cyberattacks will only increase. As a reminder, healthcare organizations need to increase security and compliance policies to match the uncertainty of these times.
According to a report, cybercrime has shot up by over 300% since the start of the pandemic.2 Here are a few examples of attacks that have taken place since the pandemic:
- UVM Health Network had to shut down its system due to a cyberattack in October 2020, with the system outage lasting over a month.3
- In 2020, following an attack by Ryuk ransomware, Sky Lakes Medical Center based in Oregon had to purchase close to 2,000 new computers. The same attack vector also hit many other hospitals over a span of 24 hours.3
- A May 2021 ransomware attack on a California-based healthcare provider, Scripps Health, caused close to four weeks of downtime, resulting in many appointments being rescheduled or recorded via paper documentation since the systems were unavailable.4
The healthcare industry is targeted for their Protected Health Information (PHI). PHI is everything a hacker needs to steal your identity and commit fraud. For the same reason, PHI is highly valued on the dark web. The growing adoption of IoT technology, hybrid work environments, and telemedicine have made accessing health records easier for hackers.
Compliance Challenges
Due to these increased cyberthreats, healthcare organizations must combine compliance and regulatory frameworks such as the Health Insurance Portability and Accountability Act (HIPAA) and the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF).
If your organization does not comply with the mandated regulations, you can face potential criminal charges.
Handling compliance matters is easier said than done and can be challenging for most organizations. Which has led some providers to cut corners and be held liable for PHI leaks. Fortunately, managed Compliance as a Service can be the answer to your compliance needs.
Managed Compliance as a Service
Managed Compliance as a Service is offered by managed service providers (MSPs) to help organizations like yours meet compliance requirements.
Allowing your compliance complications to be handled externally has a few benefits:
1. Reducing Legal Complications
When an expert MSP manages your compliance matters, regular follow-ups reduce your chances of experiencing compliance gaps, thus ensuring fewer legal complications.
2. Improving Cybersecurity
Strictly adhering to regulatory standards ensures an additional layer of security against fraud, abuse of power, and resource wastage.
3. Streamlining Administrative Processes
MSPs can offer you resources and tools to streamline administrative processes that can enhance security and compliance.
4. Minimizing the Burden of Assessment and Documentation
Most organizations consider compliance assessment and documentation a burden because it requires significant time, effort, and resources. Managed Compliance as a Service minimizes that burden.
5. Providing Proof of Compliance for Liability Insurance
You can use the accurate documentation and reporting of compliance efforts as proof while making liability insurance claims.
If you’re not sure where or how to begin your compliance journey, Contigo Technology is here to help. Contact us today or visit our compliance page to learn more. We would love to sit down and further discuss how to bridge the compliance gaps in your organization.
Sources:
- IBM Cost of Data Breach Report
- FBI Report
- Becker’s Hospital Review
- kpbs.org