HIPAA Compliance for IT Professionals: Risks
There are certain risks associated with working in the healthcare space. These risks stem from failing to comply with HIPAA rules and regulations or trusting the wrong information.
- Not being HIPAA compliant yourself. As you now know, you need to be HIPAA compliant, and when you’re not, you put yourself and your clients at risk.
- Not having a business associate agreement. You are violating the law when you don’t have signed business associate agreements in place with your healthcare clients. You’re also assuming more risk than you would have with a signed agreement.
- Choosing the wrong partner to offer compliance to clients. There are several options to choose from as your HIPAA compliance partner, but not all are equal. Some HIPAA compliance services provide little guidance to their partners on servicing their healthcare clients. The right HIPAA partner will service your healthcare clients for you, allowing you to focus on what you do best, IT.
HIPAA Compliance for IT Professionals: Rewards
While there are risks when it comes to HIPAA, multiple benefits come from adding compliance to your offerings.
- Offering clients a valuable service. Your healthcare clients need to be HIPAA compliant anyway, so why not offer to help them with it. Healthcare organizations often need help with HIPAA, seeking out a service to guide them. You can set your clients up for success by easing their HIPAA burden.
- Low barriers to entry with the right partner. HIPAA is complex, and your clients will likely have many questions. The good thing is that with the right HIPAA compliance provider as a partner, you can leave the questions to them. Longtime Compliancy Group Partner Ryan Smith stated, “In the first few years, we leveraged the Compliancy Group team to help us sell HIPAA to our clients, and after doing tons of demos with them, we were set up for a lot of success with HIPAA.”
- Increase your MRR. IT professionals can increase their deal size by 10 – 20% by offering HIPAA compliance services. The ability to upsell with HIPAA compliance helps close more deals, and bundling HIPAA with other offerings increases MRR.
- Justify advanced security offerings. Part of your client becoming HIPAA compliant requires them to conduct a security risk assessment (SRA). SRAs identify weaknesses and vulnerabilities in their data security practices – which they will need your help to fix. “When completing my self-audits as a Compliancy Group customer, my partner light bulbs started to go on. There’s so much money to be made helping my existing clients become HIPAA compliant because once they go through all this work – when it comes to remediation, it’s this guy who has to help them. Then that drives the next six months for the customer. I am doing my customer a solid by helping them implement things they need to do anyway. I know they’re well taken care of as far as HIPAA, and I’m well compensated for doing the work. It’s completely win-win,” Jesse Perry, Founder, JP Technical, commented.
- Increase potential client base. Healthcare is the fastest-growing sector of the economy, and it’s recession-proof. By becoming HIPAA compliant and offering HIPAA to your clients, your potential client base grows exponentially. You can’t service the healthcare sector when you’re not HIPAA compliant.
- Clients stay sticky to your firm. Retaining clients is just as, if not more, important as gaining new clients. The more clients’ needs you can satisfy, the more likely you are to keep them year after year. HIPAA can be the key to this. The regulation has annual requirements that must be met, and your clients need help to do so.
Compliancy Group’s Partner Program
Compliancy Group’s HIPAA Partner Program allows you to benefit from our industry-leading HIPAA compliance software and expertise. You handle the security; we’ll handle the compliance.
Our team of Compliance Coaches walk your clients through our HIPAA compliance software solution, enabling them to implement a complete HIPAA compliance program efficiently and effectively. As a Compliancy Group partner, you share in our profits with each client you bring to us without worrying about becoming a HIPAA expert yourself.
As an added value, you have exclusive access to our content marketing team, giving you the resources to educate your clients and sell HIPAA compliance. Find out more about our Partner Program!