Protected Health Information Privacy Concerns are Rapidly Increasing
OlenderFeldman LLP contributed to the recently released report entitled, The Financial Impact of Breached Protected Health Information: A Business Case for Enhanced PHI Security, which can be downloaded for free at http://webstore.ansi.org/phi. As the press release correctly notes, protected health information (PHI) “is now more susceptible than ever to accidental or impermissible disclosure, loss, or theft. Health care organizations (providers, payers, and business associates) are not keeping pace with the growing risks of exposure as a result of electronic health record adoption, the increasing number of organizations handling PHI, and the growing rewards of PHI theft.”
The report provides a 5-step method for assessing security risks and evaluating the “at risk” value of an organization’s PHI, including estimating overall potential data breach costs, and provides a methodology for determining an appropriate level of investment needed to strengthen privacy and security programs and reduce the probability of a breach occurrence.