March 09, 2011| Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced its participation in the Nineteenth National HIPAA Summit which will be held from 9-11th March, 2011 in Washington DC. The event will see top industry experts discuss the role and importance of HIPAA/HITECH, as well as emerging issues and trends in healthcare.
Operations in the health industry are becoming more technology-centric, especially with the advent of Electronic Health Records and computerized data entry applications. These systems significantly improve operational mobility and efficiency; however, they also throw up new threats concerning the security and privacy of patient information. Keeping these risks in check is HIPAA, which lays out strict standards for healthcare providers, health plans and healthcare clearing houses.
No doubt, HIPAA has proven to be effective in protecting confidential patient information. However, implementing it is costly. HIPAA Compliance requires time and effort, extensive paperwork and constant monitoring of risks and controls. Overcoming these difficulties calls for an integrated and automated approach to HIPAA/HITECH compliance management.
MetricStream supports this approach with its innovative Compliance Management Solution. Packed with powerful capabilities, the solution streamlines the management of HIPAA/HITECH compliance across business units, operations, departments and locations. It provides a single coordinated point to prepare policies and procedures, assess and analyze risks, test and monitor controls, manage audits, identify gaps and remedy issues. The solution also enables covered entities to go beyond HIPAA/HITECH and manage the complete spectrum of compliance regulations from a single platform, instead of isolated initiatives.
The platform contains intuitive interfaces for ease of use. It is flexible and scalable and can be customized to the organization's unique needs. Advanced features such as built-in remediation workflows, time tracking, e-mail based notifications and risk monitoring improve operational efficiency and effectiveness. In addition, automated controls reduce the time and effort required for HIPAA/HITECH compliance.
MetricStream also offers a RAC Audit Management Solution which helps healthcare providers mitigate risks, simplify audit management and retain legitimate revenues. It provides a common platform to manage all aspects of RAC Audit requirements such as fulfilling requests for records, ensuring timely submissions and addressing determinations and appeals. Powerful dashboards and reporting capabilities keep the process on track and ensure that organizations adapt a proactive approach to RAC Audit management.
MetricStream will be demonstrating its healthcare compliance and RAC Audit Management solutions at the Nineteenth National HIPAA Summit. MetricStream Solutions are widely recognized for their innovativeness, cutting-edge technology and flexibility. They have been adopted by several leading healthcare providers across the globe.
MetricStream is a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include Procter & Gamble, UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, and NetApp. MetricStream also owns and operates the www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).