According to an article in Dental Economics, “Cybersecurity trends consistently point to ransomware as the number one threat to health care. The ramifications of such an attack compromise not only patient data, but also your hard-earned profits. In one case, a dental office lost nearly $20,000 a day for three consecutive business days. These breaches can cost even more to repair as data restoration is often a long, drawn-out process.”
Data theft rarely affects only one client or patient. Once someone gains unauthorized access to your system, all the information is quickly compromised, which can lead to investigations, fines, high-dollar debts, and a severely bruised reputation that might affect the fiscal health of your business for years to come.
Professional Services Plans offers Cyber Liability Insurance which provides coverage for the high costs that come from any theft or breach of customer data, including risk management and services to help you respond to an incident and investigate the cause, notification services to help with legal requirements, and costs of ongoing credit monitoring.
All practices must be compliant with HIPAA / HITECH laws, which include:
- Policies and Procedures
- Workforce Training
- Risk Assessment and Risk Mitigation
- Incident Response Plan & Response Team
- HIPAA/HITECH Compliance Audits
- Business Associate Agreements
- Obligations when Breach Occurs
- Federal/State Law Breach Notification Requirements
- Payment Card Industry (PCI) Data Security Standards
Cyber liability insurance can help protect your practice and your professional image in the industry and provide you with the help that you need in managing the data breach in the public eye through quick response, proper notification, and handling from beginning to end.
For more information on Cyber Liability Coverage, visit our website or call us at 800-467-8734.”