Healthcare Business Review Weekly Brief
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Data security remains a hot-button issue across the healthcare landscape as healthcare providers navigate rapidly accelerating digital technologies and shifting regulatory environments. Indeed, artificial intelligence (AI) has become a close ally on that front for health delivery organizations (HDOs) aiming to establish an organizational culture of privacy, security, and compliance.
According to the U.S. Department of Health and Human Services (HHS), healthcare breaches have sharply increased this year. Between January and May, HHS listed 244 electronic data breaches of healthcare organizations (with at least 500 victims). With the unprecedented shift to virtual health, fuelled by necessity and regulatory flexibility, organizations often had to handle sensitive information online through servers that were at times unprotected. AI and ML can substantially aid healthcare providers by facilitating a well-designed and thoughtful approach to governance, compliance, and risk management. From performing data access and control management and monitoring data privacy to the pharmacy and drug diversion surveillance and audit of pharmaceutical transactions, AI and ML can bring numerous benefits to the table.
Cloud is another technology that’s making huge strides in the sector. HIPAA-compliant cloud tools offer healthcare providers many benefits, including cost savings, remote file sharing, custom applications, and expanded storage, allowing organizations to create a dynamic, future-proof infrastructure. As a result of such trends, the healthcare compliance software market valued at $1.45 billion last year is projected to reach $2.71 billion by 2027, at a CAGR of 11 percent.
Putting the spotlight on the rapid growth in the domain, Healthcare Business Review highlights the vital technological advancements in the healthcare compliance space and how compliance solution providers leverage them to help healthcare providers navigate the complex regulatory landscape. The edition also features thought leadership articles from Donnetta Horseman, Chief Compliance Officer at Moffitt Cancer Center, Dr. Joseph Shega, Executive Vice President and Chief Medical Officer at VITAS Healthcare, Allie Friesen, Director of Behavioral Health Clinical Program at INTEGRIS Health, and Brian Barnett, Director, Division of Transport Medicine at Children’s National Hospital, who throw light on the recent innovations in the healthcare compliance space and how those advancements are providing healthcare providers with the robust support they need to thrive in today’s healthcare environment.
In this edition of Healthcare Business Review magazine, we also bring you the story of some of the top healthcare compliance solution providers that deliver the best outcomes for their clients. The featured companies include Onix, a leading cloud solutions provider, and Protenus, a company that’s extending a leading-edge healthcare compliance analytics platform.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the healthcare compliance space. We would like to know your thoughts.
Usually, the qualified subscribers of our magazine nominate companies with whom they have collaborated and experienced exceptional results to be in this list. Did a company you recently worked with give you stellar results and ROI? Did it turn out to be one you would wholeheartedly recommend to peers? Or do you know of such an outstanding company through your network? Please fill in the details below and nominate them to be featured here.
Compliance & Risks helps companies unlock market access by simplifying the world of product compliance. The software, regulatory content and team of subject matter experts provide comprehensive market access solutions in the world.
Analyzes, designs, and implements cloud security strategies and services to reduce risk using a defense-in-depth approach that aligns with business and compliance requirements. The company does it across multiple cloud platforms and industries, including healthcare, financial services, and technology.
Scott Cruze - Director of Cloud Professional Services, Ron Rerko - Director of Healthcare Cloud SolutionsSecurity governance and compliance are built into the foundations of what we do with our customers and how we interact with them
Onix
Management
Scott Cruze - Director of Cloud Professional Services, Ron Rerko - Director of Healthcare Cloud Solutions
The Protenus healthcare compliance analytics platform empowers health systems to monitor patient privacy and surveil drug diversion with artificial intelligence.
Excelas is a national provider of medical record organization and analysis, helping health care organizations, medical corporations, and insurers settle and win cases. By taking on the complex and laborious task of medical record organization and analysis, Excelas helps keep clients’ resources invested where they belong — in patient care.
Healthicity brings simplicity to healthcare compliance and medical auditing. Healthicity designs auditing, compliance, and analytics solutions that saves time for compliance and auditing professionals and helps to create a safer environment for patients.
HealthStream is dedicated to improving patient outcomes through the development of healthcare organizations’ greatest asset: their people. HealthStream understands the need to maximize resources while dealing with an increasingly complex healthcare environment.
Inovaare offers highly configurable healthcare compliance automation solutions, which streamline and automate compliance and business processes and help healthcare organizations reduce risk, lower operational cost and increase compliance visibility. Inovaare’s approach to CMS and state-level compliance is fundamentally different from conventional methods, because its systems enable compliance teams to monitor organizational performance at the source, in real time.
Live Compliance provides a powerful management program, an automated and organized portal, and expert partners for your organization’s compliance requirements. Live Compliance makes corrective action items understandable, trackable and are properly documented.
Medical Technology Associates’ mission is to ensure compliance with life safety codes and standards for healthcare facilities, laboratories and pharmacies. MTA is the national industry leader providing one stop shop with a full suite of solutions for compliance testing, equipment, service and repair for NFPA, USP 797/800 and other life safety requirements.
RLDatix helps organizations drive safer, more efficient care by providing governance, risk and compliance tools that drive overall improvement and safety. RLDatix’s suite of cloud-based software helps organizations reduce healthcare-acquired infections, report on adverse events, and ensure patient safety learnings are deployed effectively and immediately through dynamic policy and procedure management.
