You’ve probably seen a coworker or two of yours wearing a Fitbit device at some point since its arrival on the wearable health-tech market back in 2013. But just last week the company announced a huge milestone that might make it an even more ubiquitous presence among corporate clients: Fitbit HIPAA compliance is now a reality!
Most of the data that Fitbit tracks is classified as protected health information, or PHI, under HIPAA ruling. This includes biometrics such as heart rate and blood pressure levels that Fitbit devices monitor, but also the data recorded in users’ profiles such as their name, date of birth, phone number, and email address. All of this information is now protected with the same integrity as any other HIPAA compliant business associate (BA), effectively opening the device to a whole new market of HIPAA-covered entities.
By following through on its HIPAA compliance program, Fitbit HIPAA compliance essentially guarantees HIPAA-covered entities of Park’s commitment with its newfound ability to enter into business associate agreements, the same as any other compliant BA. Major clients have already begun signing onto the company’s Fitbit Wellness program, including Geico, Quicken Loans, and Target. In a market already crowded with dozens of alternative fitness trackers, compliance is going to become the key factor in landing corporate partnership and widespread adoption.
“This is really the beginning of a trend we’ve already forecasted,” said Marc Haskelson, CEO of Compliancy Group. “Stricter HIPAA enforcement means that covered entities aren’t going to take chances with a company that hasn’t proven its compliance. Doctors, patients, and corporate partners are becoming smarter, they’re looking for HIPAA compliance as the main factor in who they choose as a provider. And if they don’t find it in one company they’re going to move onto the next.”
If Fitbit is any indicator, it would appear that Haskelson is right. In addition to the partnerships it’s landed, Fitbit’s stock surged 4.41% immediately following the announcement, with a net gain of 14.11% in the time since.
“This is just the start,” said Haskelson. “Business associates are realizing that maintaining HIPAA compliance is going to be what differentiates them from the competition.”
So if you start to see more Fitbits around the office, you can credit that change with compliance.
About Compliancy Group
Compliancy Group simplifies the challenge of compliance, whether you are an experienced compliance expert or a practice manager. The Guard, a simple, cost-effective, web-based solution, can help any sized organization manage every aspect of HIPAA and Meaningful Use compliance. Use our proprietary Achieve, Illustrate, and Maintain methodology and experienced Compliance Coach support to address the entire set of HIPAA, HITECH, Omnibus, and PCI regulations. Visit www.compliancy-group.com or contact us at 855.854.4722 (855 85 HIPAA) to learn how simple compliance can be.
