There is a lot of opportunity for MSPs looking to enter the healthcare vertical. More organizations are relying on MSP compliance solutions, as they do not have the budget to hire a full-time healthcare IT staff; a recent study, by Black Book Market Research, surveyed 2,876 security professionals across 733 provider organizations, finding that 84% of hospitals don’t have full-time cybersecurity employees.
As staffing shortages have increased by 40% from 2018, more healthcare organizations are looking to healthcare MSPs to fill the gap, with 21% of respondents opting to outsource their security staff. Not only are healthcare organizations understaffed, they are also the most vulnerable sector of the U.S. economy. The study found that 93% of healthcare organizations were breached in the last three years, with 57% facing more than five breaches in that same time period. Additionally, since 2015, 300 million healthcare records have been stolen, affecting 1 in 10 healthcare consumers.
How MSP Compliance Solutions Can Help
The healthcare industry has a need for MSP compliance solutions, as they are required to adhere to the standards set forth by the Health Insurance Portability and Accountability Act (HIPAA). As all healthcare organizations need to be HIPAA compliant, and they rely heavily on outsourcing their IT, offering MSP compliance solutions allows you to service the largest and most vulnerable sector of the U.S. economy.
How to Offer MSP Compliance Solutions
Compliancy Group allows you to offer healthcare IT compliance with no barriers to entry. You don’t have to be a HIPAA expert as we service your healthcare clients for you. All you have to do to offer MSP compliance solutions is to become HIPAA compliant yourself. Our expert Compliance CoachesTM guide you through our process, enabling you to prove your “good faith effort” towards HIPAA compliance. Once you have completed our process, you are eligible to receive our HIPAA Seal of Compliance, an industry recognized verification that you have done all that is required by law to be HIPAA compliant.
After you have gone through our process, your healthcare clients will go through the same process to implement their HIPAA compliance program. Our Compliance Coaches will guide them through the process, answering any questions they may have along the way.
Why You Should Offer MSP Compliance Solutions
Still not sold on MSP compliance solutions? Offering MSP compliance solutions differentiates your firm, while allowing you to standardize your stack. You won’t receive pushback from your healthcare clients on every line item in your stack, as they need to implement robust security solutions to satisfy the law. Becoming a HIPAA compliant MSP, and offering MSP compliance solutions, allows you to triple your MRR while doubling your profit.