The Cost Of A HIPAA Violation
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Transcript of The Cost Of A HIPAA Violation
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Does Your Practice Know The Cost?
The Cost Of A: HIPAA Violation
Fines Lawsuit
Reputation Recovery
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+In The Last 2 Years…
% Of Health Care Organizations Have Had:
One Or More Breaches
Photo: Chuck Coker
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Have Had More Than 5 Breaches
And…
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+Government Fines & Penalties
Range From $100 To $50,000 Per Health Record!!! With A Maximum Annual Fine Of…
$1.5 Million
Photo: 401(K) 2012
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+But There’s More…
Photo: Steve Davis Photo: Gayla Baer-Taylor Photo: One Way Stock
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+Investigation & Recovery
n $$$ Hire Cyber Security Firm To Investigate The Cause
n Take Action Based On The Findings
How did it happen
# of Records Exposed
Stop The Bleeding
Enforce Policies
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+Lawsuits
HIPAA Award Upheld After Walgreen’s Pharmacist Shared Patient’s Data
$1.44 Million
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+PR Nightmare – Angry Customers
Every Affected Individual Must Be
Notified!!
And If The Breach Involves 500 Or More Records…
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+Then You Must Alert…
n The Media
n The Department of Health & Human Services
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+ How Much Time Will You Waste?
n Crafting A Message & Alerting n Patients Whose Records Were Exposed
n The Media
n Department of Health & Human Services
n Answering Phone Calls From Angry Patients
n Responding To Media Inquiries
n Responding To HHS Follow Up Questions & Paperwork
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+ In Other Words…
n Family
n Patients
Yet MORE TIME For…
LESS TIME With…
n Doing Paper Work
n Dealing With Oversight From Gov’t Agencies
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+The Largest Cost For Your
Company:
Photo: MSLGroup Global
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+The $$ Over A 10-Year Period
n Healthcare Industry - $398 Per Record
n Pharmaceutical Industry - $298 Per Record
n 48% of the Cost Is Lost Revenue
Ponemon Institute: 2015 Cost of Data Breach Study: United States
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+With The $$$ Of A Single Data Breach Likely Being In The…
MILLIONS $$$ Photo: 401(K) 2012
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+It’s No Wonder That…
Of Small Businesses Go Out Of Business After A Data Breach
National Cyber Security Alliance: Small Business Survey
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For More Information On Cyber Liability & The Ways
To Prevent, Protect, & Rescue Your Business
Visit…
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www.affenix.com
Cyber Sherpas Preparing, Guiding, & Protec8ng
Businesses In A Digital Age