How much does it cost to be HIPAA Compliant?

Ever since businesses have shifted to e-commerce and have started to conduct affairs online, the issues of privacy and security breach have been the talk of the town. Indeed, it is true that the instances of privacy invasion have increased over the past few years with many people from within the company or externally get access to records and private information that they should not have access to. This certain thing has put a huge question mark on the authenticity of many firms and also on the use of internet to conduct businesses online.

To cope with this, especially for the firms that deal directly or indirectly with health records of patients and other medical related stuff, HIPAA compliance is one way out. HIPAA is actually an acronym that means Health Insurance Protection and Accountability Act. This act basically enables protection of records and patient’s health information that is both private and personal. If a firm is HIPAA compliant, the customer can be assured that their records will only be accessed by a limited number of people who actually need access to it in order to make sure that the right medicines and right operations are recommended. You can visit to learn more about HIPAA.

HIPAA compliance is actually a key to making sure that both the patients as well as the medical caretaker are assured of privacy and security so they can carry out their operations online without any external hindrance or distraction. Being HIPAA compliant is very important for the firm itself. This primarily because many firms have opted for HIPAA compliance that makes them both authentic and capable of trusting. Hence, if some firm decides not to go for HIPAA compliance, it can be forgoing a great opportunity to increase their customer base and also a chance to increase profitability in the short as well as the long run. 

How much does HIPAA compliance cost?

Firms often overlook the advantages of being HIPAA compliant simply because they have to pay for being part of the exclusive group. However, looking in the long run, this is a sort of investment that will ultimately benefit the particular firm itself. As far as the monetary cost of being HIPAA compliance is concerned, it must be noted that there is no single charge for this service.

According to the HSS, per organization, it was calculated that the one time cost of being HIPAA compliant is divided into a few categories. For instance, there is no single charge of being HIPAA compliant. As far as the breakdown is concerned, it consists of an updated notice of privacy practices, updates of breach notification requirements, updates with regards to business associate agreement as well as the security rule compliance which is definitely the most important part. The grand total of all these categories adds up to nearly $1,000. This is merely an estimate and can obviously vary from one organization to another and from time to time.