Banks Need Primer of PHI Protections

HDM Breaking News, February 3, 2011

Banks are angling to use their national transactions networks and portfolio of financial services to win more business in the health care industry.

But only about a quarter of banks really understand new HIPAA privacy and security rules that hold business associates to the same data protection requirements as covered entities, says Lee Barrett, executive director of the Electronic Healthcare Network Accreditation Commission. “Others may be aware of it but they don’t know what it means to them.”

Consequently, these institutions haven’t done privacy and security assessments, adopted new policies and completed other compliance work. Barrett will spell out what the rules mean during a session at the Medical Banking Boot Camp on Feb. 20 that precedes HIMSS11 in Orlando.

He’ll also discuss a new guide for HIPAA and HITECH application in banking. The guide covers defining if an institution is a business associate or covered entity, policies to review, implications to be aware of during review, and roles and responsibilities for specific officers in the institution.

The lasting impression that Barrett hopes to leave: “Do something. Reassess whether or not you are subject to the same rules as a covered entity, assess your position and put your rules in place.”

Information on the Medical Banking Boot Camp, sponsored by the HIMSS MBProject, is available here.