The Health Insurance Portability and Accountability Act (HIPAA) sets the standard for protection of sensitive patient data. Non-adherence to HIPAA’s rules and protocols can invite a penalty fee ranging from $100 to $250,000, along with imprisonment of up to 10 years. According to the U.S. Department of Health and Human Services (HHS), 70 percent of the market is not HIPAA compliant while the Centers for Medicare and Medicaid Services (CMS) states that 79 percent of meaningful audits result in failure. In order to nullify this, Compliancy Group improves traditional HIPAA consulting practices by the use of well-designed software and web-based solutions. “The vision of Compliancy Group is to help medical practices and vendors, both large and small to achieve simple and cost effective HIPAA compliance,” says Marc Haskelson, CEO of Compliancy Group. With expertise in auditing, compliance, risk management and software development, Compliancy Group along with Fortune 500 organizations like Experian, Kaiser Permanente, Prudential, and Hearst, developed the HIPAA compliance management solution—The Guard.
The Guard addresses any organizational need to comply with the complex healthcare, financial, and government regulations. Haskelson states, “It enables organization to achieve, illustrate and maintain HIPAA, Health Information Technology for Economic and Clinical Health Act (HITECH), and Omnibus compliance in a unified, easy to use, cost effective solution. It utilizes a logical workflow that offers control of the assessment process and day-to-day administration of the compliance effort.” The Guard features a virtual HIPAA audit, compliance illustrator, gap monitor, incident management, document and version control, and business associate management, all within a single audit dashboard, reducing the margin of error and increasing feasibility.
A multitude of organizations have benefited from Compliancy Group. Genelex, a leader in personalized medication management and DNA testing, faced issues in ensuring HIPAA privacy and security compliance.
The company needed a solution that would allow a complete audit along with remediation and tracking. Genelex, after approaching Compliancy Group seeking information about staying compliant, learned of The Guard.The client was then was provided with a complete risk analysis that covered administrative, mechanical, and physical aspects of HIPAA rules. After completion of audits, The Guard was able to create, at any point of time, a current risk analysis that identified all the discovered deficiencies. Once the gaps were acknowledged, Genelex initiated remedial plans that the administrators could access, update, and complete. The Guard’s document manager delivered Genelex with capabilities to create new policies and procedures, store relevant compliance documents, and set up reminders because compliance is not a onetime ordeal but an ongoing one. Genelex needed a system that was thorough, cost-effective, and manageable which they found in The Guard.
Our vision is to help medical practices and vendors, both large and small to achieve simple and cost effective HIPAA compliance
Talking about the challenges that lie ahead, Haskelson says, “Medical Service Providers (MSPs) need to be in an ideal position to address their client’s critical regulatory challenges by offering Compliance-as-a-Service (CaaS).” Compliancy Group is in position to leverage existing relationships and offer new services that will serve the clients’ critical needs, while adding recurring and highly profitable revenue streams. “We allow anyone to simplify the challenge of compliance, whether they are an experienced compliance expert or a practice manager,” says Haskelson on an ending note.