Risk-Assessment-as-a-Service

ECR’s HIPAA Risk-Assessment-as-a-Service delivers security assessment services on an ongoing basis throughout the year. An effective security assessment needs to be reviewed, retested, and repeated on a periodic basis. Security risk assessments are essential to discovering risk and for defining appropriate security and risk mitigation strategies that fit your company’s objectives.

The Health Insurance Portability and Accountability Act’s (HIPAA) security rule requires covered entities to conduct an annual risk assessment. This assessment helps an entity ensure it is compliant with HIPAA physical, administrative, and technical safeguards. Section 164.308(a)(1)(ii)(A) clearly states that an accurate and thorough assessment of risks and vulnerabilities.  HIPAA has a tiered penalty system as follows:

• Tier 1—lack of knowledge: The minimum penalty is $119; the maximum penalty is $59,522, and the calendar-year cap is $1,785,651.
• Tier 2—reasonable cause and not willful neglect: The minimum penalty is $1,191; the maximum penalty is $59,522, and the calendar-year cap is $1,785,651.
• Tier 3—willful neglect, corrected within 30 days: The minimum penalty is $11,904, the maximum penalty is $59,522, and the calendar-year cap is $1,785,651.
• Tier 4—willful neglect, not corrected within 30 days: The minimum penalty is $59,522; the maximum penalty is $1,785,651; and the calendar-year cap is $1,785,651.

ECR provides excellent compliance guidance in identifying and lowering the risks of having a breach with costly fines and penalties that can be detrimental to a small practice. Most insurances will not pay fines or penalties when due diligence was not done previously.

Forward-looking companies don’t look at these security assessments as one-time events, but rather a series of recurring events that provide them with timely strategic, planning, and risk assessment information.  ECR can provide its Risk-Assessment-as-a-Service on a monthly or annual basis. This allows for a period to period comparisons and the setting of baselines to measure progress as required by HIPAA.

Secure Your Business with Our Ongoing Security & HIPAA Risk Assessment Services