Whether you are a hospital, part of an independent doctors’ network, or a solo healthcare practitioner, the requirements and obligations regarding the collection, maintenance, and eventual destruction of personal and confidential medical information are significant. The loss or mishandling of any of that information can result in fines, penalties, and even the loss of license.
And despite everyone’s best efforts, 56% of healthcare organizations have experienced a data breach, with 29% stating a breach occurred in the past 12 months.
Source: Stericycle, Data Protection Report, 2021.
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Protecting your confidential information isn’t just a best practice; it’s the law!
Like most industries that work with private and confidential information, the healthcare sector is heavily regulated and governed. And laws designed to protect identities, medical information, financial data, and personal privacy come with strict rules – and heavy fines for violating them. We can help you stay compliant.
In addition to your industry regulations governing information privacy, here are a few of the key information security laws that also apply:
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Health Insurance Portability and Accountability Act (HIPAA)
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Health Information Technology for Economic and Clinical Health (HITECH)
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Fair and Accurate Credit Transactions Act (FACTA)
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Sarbanes-Oxley Act
Health Insurance Portability and Accountability Act (HIPAA)
Established to protect how patients’ health information can be used and disclosed. It governs the confidentiality of PHI and the secure destruction of any physical or digital data. Any violations are subject to fines up to $1.5 million.
Health Information Technology for Economic and Clinical Health (HITECH)
Safeguards to protect privacy and security for healthcare data and addresses concerns associated with the electronic transmission of health information. It promotes improved storage and destruction of Protected Health Information (PHI) by health care service providers and their business associates.
Fair and Accurate Credit Transactions Act (FACTA)
Ensures accuracy and privacy of consumers’ financial information and requires effective policies in the workplace to secure destruction of consumer information to prevent identity thefts and unauthorized access to the information.
Sarbanes-Oxley Act
Is an act set up for publicly traded companies to protect investors by improving the accuracy and reliability of corporate financial disclosures. The act also requires secure document retention and destruction – to better protect against corporate and accounting fraud.
Health Insurance Portability and Accountability Act (HIPAA)
Established to protect how patients’ health information can be used and disclosed. It governs the confidentiality of PHI and the secure destruction of any physical or digital data. Any violations are subject to fines up to $1.5 million.
Health Information Technology for Economic and Clinical Health (HITECH)
Safeguards to protect privacy and security for healthcare data and addresses concerns associated with the electronic transmission of health information. It promotes improved storage and destruction of Protected Health Information (PHI) by health care service providers and their business associates.
Fair and Accurate Credit Transactions Act (FACTA)
Ensures accuracy and privacy of consumers’ financial information and requires effective policies in the workplace to secure destruction of consumer information to prevent identity thefts and unauthorized access to the information.
Sarbanes-Oxley Act
Is an act set up for publicly traded companies to protect investors by improving the accuracy and reliability of corporate financial disclosures. The act also requires secure document retention and destruction – to better protect against corporate and accounting fraud.
Learn to recognize the risks.
In healthcare, it’s a safe bet that every document you or your employees handle contains some form of confidential information. Whether it’s patient records or pharmacy reports, or your own financial reports and billing data, you have a lot of information to secure.
If you create, collect, or dispose of these types of documents, you and your organization could be at-risk for an information breach.
- Patient Insurance Information
- Payroll and HR records
- Supplier contracts
- Medicaid/ACA Information
- Financial Statements
- Tax Filings and Internal Audits
- Medical Invoices and Payments
- Balance Sheets
- Staff Schedules and Contact Info
- X-rays and MRI Files
- Income Statements
- Social Security Numbers
Why Choose Shred-it as Your Go-to Paper Shredding Service?
Shred-it protects organizations' information for their people, customers and brands through secure shredding. With 30 years of experience, our primary focus on document confidentiality and security helps ensure your confidential information remains confidential. We offer paper, hard drive, and specialty scheduled shredding services for all forms of secure records and important documents. As a leader in the secure data destruction industry, we’re ready for you to provide us with the sensitive documents that you need us to shred or purge.
Service Reliability
With the largest paper shredding fleet and the largest service footprint in North America, we are where you are.
Security Expertise
With the most NAID AAA certified mobile/on-site and plant-based shredder facilities, we keep your sensitive information safe.
Customer Experience
With the highest customer satisfaction among all vendors, we are 100% committed to your protection and satisfaction.
Healthcare Organizations Understand that it Pays to Be Prepared
62%
of healthcare organizations
agree a data breach would impact their reputation
Stericycle, Data Protection Report, 2021
Only 27%
of healthcare organizations
have a paper shredding service
Stericycle, Data Protection Report, 2021
.
The 2021 Shred-it Data Protection Report (DPR) goes into depth to analyze the perceptions and practices around information security across various industries. Learn more about how businesses can protect their organization from information security threats.