There are a lot of important decisions to make when it comes to technology; from your technology provider, to the solutions you use, to whether or not you want to work with the cloud, and so on. But one thing isn’t up for discussion: you absolutely need to understand and abide by your unique industry compliance standards.
When you’re in the medical or financial industries, patients and clients trust you with sensitive personal data. Part of your job is to ensure that data is kept safe no matter what. That’s where compliance standards such as HIPAA and PCI come in.
Failing to meet compliance leads to a snowball effect of trouble:
Compliance standards are in place not only to protect your patients and clients, but also to ensure your practice is never compromised or crippled. So what can you do?
Take a look at your current security plan; if it doesn’t account for compliance, you need to start talking to an IT professional about solutions right away. A great IT team will help you understand the restrictions in place and ensure your processes and procedures are all in line with compliance for your industry.
Compliance isn’t a one-time thing; it’s the ongoing practice of keeping your processes and security protocols within necessary standards. Regular assessments and checks will make sure you’re always following proper protocols. Having an IT partner who works with you to plan strategically and keep your business secure is a huge bonus.
Understanding and following the compliance standards for your industry is critical. With the right security plans and processes, you have peace of mind knowing your patients or clients are always protected – and so is your business.
The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).
40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).
It takes an average of 287 days for security teams to identify and contain a data breach, according to the “Cost of a Data Breach 2021” report released by IBM and Ponemon Institute.
The cost of cybercrime is predicted to hit $10.5 trillion by 2025, according to the latest version of the Cisco/Cybersecurity Ventures “2022 Cybersecurity Almanac.”.
Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).
The internal team was energized. With the Level 1 work off its plate, the team turned its attention to the work that fueled company growth and gave them job satisfaction.
The average cost of a data breach in the United States is $8.64 million, which is the highest in the world, while the most expensive sector for data breach costs is the healthcare industry, with an average of $7.13 million (IBM).
More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.
We did a proof of concept that met every requirement that our customer might have. In fact, we saw a substantial improvement.
We did everything that we needed to do, financially speaking. We got our invoices out to customers, we deposited checks, all the things we needed to do to keep our business running, and our customers had no idea about the tragedy. It didn’t impact them at all.
“We believe our success is due to the strength of our team, the breadth of our services, our flexibility in responding to clients, and our focus on strategic support.”