Financial Impact of Breached PHI Study Released

On Monday, March 5th, the American National Standards Institute (“ANSI”) issued its long-awaited report, “Financial Impact of Breached Protected Health Information” (http://webstore.ansi.org/phi/).  The Report provides a good summary of the current state of health data privacy and security in the U.S., HIPAA legislative history, and some potential measures that can be taken to strengthen the protection of health data privacy and security.  Most interesting, the Report also discusses the financial impact of breached PHI, giving examples of actual costs that an organization might incur when a data breach occurs.

Let us know what you think of the Report’s findings and what steps your organization is taking to protect PHI. We’re also interested in any insights you have for other organizations to better protect PHI.

Should you have any questions, please contact Mark Garsombke at 414.721.0907 or mgarsombke@hallrender.com