HIPAA COMPLiance

and the 21st Century cures act

Summary

Patient data can leak onto the internet from doctors’ offices when patients pay for a service. This may include patient name, doctor name, conditions, products purchased, etc.

The 21st Century Cures Act is a federal privacy law aimed at protecting patient data. It requires electronic platforms to securely handle and control the movement of Personal Health Information (PHI). This includes the secure transfer of PHI during payment processing at healthcare facilities, which can be especially problematic.

Non-compliance with this law can lead to fines of up to $1 million per violation and/or a 25% reduction in Medicare reimbursement for a period of 2 years.

Our approach

An investment group has invested $5m in RxSpark, and additional investments in our partner companies that can handle the de-identification of the data at the credit card level, the passing of this data in a secure manner into the EMR.

• Through our Enterprise initiative, we work with physicians, dental groups and other healthcare professionals

• Once onboarded, we educate these healthcare providers about the potential impacts of non-compliance to the 21st Century Cures Act

• We facilitate their transition to a secure system through our strategic partners and are paid on every patient transaction.

Contact us for more information.