With the 1996 enactment of the Health Insurance Portability and Accountability Act (HIPAA), followed by the Health Information Technology for Economic and Clinical Health (HITECH) Act in 2009 – a set of standard and stringent norms were implemented to protect health information. While HIPAA goes a long way towards securing health information, it also introduces multiple compliance challenges in the form of increased costs, extensive documentation, and constant tracking of regulatory updates. Visionary companies have been able to overcome these challenges to a large extent by replacing traditional siloed and ad hoc compliance processes with an integrated, streamlined, and automated approach.
MetricStream HIPAA Compliance Management Software Solution
The MetricStream HIPAA Compliance Management Solution provides an integrated system to effectively and efficiently manage your HIPAA compliance requirements. The Solution maintains a centralized structure of the HIPAA compliance hierarchy, including regulations, processes, assets, risks, and controls. It also streamlines the process of preparing and publishing HIPAA-compliant policies and procedures, assessing and analyzing compliance risks, managing audits, identifying gaps, and resolving issues. Powerful reporting tools enable you to track each stage of compliance in real time. In keeping with the new HIPAA rule, the Solution also improves visibility into the compliance processes and controls of Business Associates.
- Align the HIPAA compliance program with IT governance frameworks. Secure protected health information (PHI) effectively.
- Manage HIPAA related rules, regulations, documentation, and policies with ease and efficiency.
- Monitor HIPAA compliance levels through powerful dashboards and reports.
- Minimize compliance overlaps by mapping HIPAA requirements to other IT regulations and standards.
- Prevent HIPAA violations through consistent monitoring and investigation of risks, issues, and discrepancies.
The greatest successes have been identifying the controls to reduce risk and making that transparent to senior management and the board.