In addition to the above problems I’ve mentioned, without proper healthcare compliance, you could also face severe financial penalties. For instance, the Office for Civil Rights (OCR) at the Department of Health and Human Services (HHS) enforces HIPAA compliance and can impose severe fines along with huge penalties. So, what are the penalties for HIPAA violations?

With the rise in cyberattacks and ransomware threats, getting cybersecurity insurance has become a challenge for healthcare organizations that don’t have proper compliance protocols in place. Insurers often ask for the firms to stick to the security standards and regulations before providing you with the required insurance policies.

Without compliance, you could be hit with higher premiums or worse, face coverage denials. In my experience, this leaves healthcare practices highly vulnerable to financial losses in the event of a data breach. It’s a risk no organization can afford to take in today’s landscape.

Now that we’ve covered the problems practices face without compliance, let’s move on to the potential risks that come with it. From financial penalties to reputational damage, the consequences of non-compliance can be severe and long-lasting. Let’s take a look at these risks and how they can impact your practice.

Patient Safety must always be the top priority within any healthcare setting. Failure to adhere to important protocols puts your patients at unwanted risks. Moreover, patients are increasingly concerned about their privacy and security.

In fact, a survey by Accenture found that 64% of patients would consider changing their providers due to data security concerns. Ignoring healthcare security compliance can lead to decreased patient engagement and satisfaction, ultimately affecting the quality of care provided.

These concerns about privacy and security don’t just impact patient engagement, but they also have a direct effect on your practice’s ability to stay competitive in the market.