1. Efficient Management of Compliance Projects
Annual HIPAA/CCPA compliance projects require detailed planning. Developing an in-house process for this is seldom an easy task. Consider how much time you would need as the regulations become more complex each year.
Outsourcing the management of your compliance projects will relieve the burden of managing another IT-related project, from planning to delivering annual reports. Your solution provider will work with external auditors to assess, implement, and execute compliance requirements.
2. Effective Remediation Solutions
Compliance solutions consist of remediation activities. This involves improving internal controls, updating security policies, and adjusting technical configurations. Your compliance partner can provide an independent assessment of internal controls to reveal the type of remediation services your organization needs.
3. Proper Selection of Compliance Tools
The compliance mandates provided by HIPAA and other regulatory authorities require providers to procure, implement, and maintain many security solutions. As a healthcare provider, you must implement two-stage authentication, monitor file integrity, and keep a log of all activity on your network.
The high level of regulation in the U.S. healthcare industry makes it necessary to use various tools to achieve compliance. However, with a compliance solution provider’s expert assistance, you can find the best tools at the best price without spending a lot of time and money trying out various tools and solutions.
4. Substantial Cost Savings
Partnering with a compliance solution provider can provide substantial cost savings for healthcare organizations. The compliance partner relieves the organization of the burden of building a team of compliance officers. There’s no need to hire full-time employees that will also require health and other benefits. Instead of worrying about the fine points and technical details of compliance, the organization can focus on the actual deliverables.
5. Maintenance of Compliance Management
The compliance process in healthcare involves both one-off projects and ongoing work-in-progress. That’s why most organizations have to spend a significant amount of time on compliance management annually.
When done properly, assessing, testing, correcting, upgrading, and modifying internal controls can be genuinely time-consuming. Without outsourcing, you will need employees who are experts in regulatory compliance. Keeping them on your payroll could cost you hundreds of thousands of dollars annually.
Your outsourcing partner will provide regular testing of internal controls and deliver concise and transparent reports to management. They will also implement an efficient workflow procedure for HIPAA/CCPA auditors.
6. Filling of Security Questionnaires
Completing vendor security questionnaires is a long, detailed, but necessary task. With this task taking several hours to complete, most of your employees will do their best to avoid it. The workload is best handled by a dedicated officer assigned to you by your compliance solutions provider.
The contracted compliance officer will take ownership of the security questionnaire process. With a structured process developed by your solutions provider, the questionnaire can be completed from a database containing pre-written answers.
Get Help Now With Annual Medical Compliance Solutions
Contact MediQuant today at 844.286.8683 to get more information about regulatory compliance outsourcing. We’ll be glad to schedule a free consultation, provide a compliance checklist, and help you choose the services you need.
