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.