Cost of Health Care Systems Overhaul Could Dwarf Y2K
Last Friday, February 4, the Chicago offices of Deloitte & Touche and Deloitte Consulting got together to examine the most sweeping legislation to affect the health care industry in more than 30 years. The offices jointly hosted an educational seminar for health care executives and industry specialists to discuss the Health Insurance Portability and Accountability Act (HIPAA) Compliance.
At the seminar, health care experts discussed the impact that HIPAA will have on the health care industry. Compliance with this act may just be the next large-scale overhaul for corporate America. Early predictions estimate that health care organizations will spend more in time and resources than was spent on Y2K readiness.
Various aspects of HIPAA compliance including legislative and regulatory updates, transaction standards and code sets, security and privacy standards, and the industry wide implications were also covered at the seminar. Aidan Collins, National Director, HIPAA Services, Deloitte & Touche said, “HIPAA also forces healthcare organizations to recognize the value of consumer concern regarding the security and privacy of health information.”