Associates and other employees or company owners in the healthcare field have probably already heard about HIPAA, also known as the Health Insurance Portability and Accountability Act, which helps protect private health data. You also likely understand the importance of guarding this information’s confidentiality. However, you may want to learn more about HIPAA insurance and what professional liability and compliance issues you should be aware of.
Is Your Entity Covered Through HIPAA?
The first thing to check up on is to ensure your entity really is covered under HIPAA. These relevant organizations include, but may not be limited to:
- Medical care facilities
- Home health care agencies
- Old-age hospices
What Would a Professional Liability Policy Protect You From?
The main reason to make sure you have good HIPAA insurance in place is to give yourself or your business professional protection in case you’re found in breach of a HIPAA regulation. These violations can lead to severe fines, court cases and other penalties.
While as someone in the healthcare field, it’s likely that you already know about the importance of HIPAA compliance, you might not have known about the reasons for getting HIPAA insurance. In order to ensure full HIPAA compliance and to give yourself professional liability protection, a strong policy could help.