Reliable HIPAA Risk
Assessment Services

Leverage our proven HIPAA security risk assessment services backed by advanced methodologies and ensure complete compliance with HIPAA rules and regulations.
what & how hippa

Risk Assessment & Compliance Benefit You?

HIPAA regulations risk assessment is a risk assessment process for healthcare companies that helps identify any and all risks or weaknesses that can threaten the security and integrity of Protected Health Information (PHI). You can gauge the importance of HIPAA and risk assessment procedures with the fact that even the smallest breach can cost you millions of dollars as well as the reputation of your healthcare organization.

A proper HIPAA privacy risk assessment benefits you in several ways. Firstly, it ensures that you never fail your audits and conduct a successful audit 100% of the time. It helps you address compliance issues and challenges across your healthcare organization leaving no room for errors, ensuring total compliance. Implementing HIPAA assessments and practices properly helps you protect your organization from lawsuits and costs that can occur because of any risk to PHI. Most of all, conducting a HIPAA risk assessment helps you prioritize patient safety and adopt a patient safety culture, which is extremely advantageous to your healthcare practice because it builds and maintains trust. As an experienced HIPAA security risk assessment IT company, we can assure you that with our risk assessment services, you will have no issues passing every audit without worry.

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the process we follow for

Risk Assessment For HIPAA Compliance

As one of the top HIPAA risk assessment vendors, we follow an exhaustively detailed and stringent process to make sure we do not leave any gaps in order to protect you from any potential damage to your reputation as well as costs you may incur. The HIPAA security risk assessment services we offer have an extremely meticulous process that applies to your technical, physical, as well as administrative systems, ensuring that we help you perform a comprehensive assessment and do not leave out any areas. We have outlined the process for you below:
Services We Offer

The Best Online HIPAA Risk
Assessment Software

As one of the most experienced HIPAA risk assessment vendors, we find it upon ourselves to deliver the best possible services to our customers. We deliver confidence in the form of HIPAA compliance risk assessment services so that you can rest assured that you will always be protected from any potential damage in the form of your reputation or costs. Here are some of the HIPAA risk assessment services we offer here at Folio3:
HIPAA Security Risk Assessment Services
We help you build a custom risk assessment and management plan. By partnering with us, you leverage a complete and comprehensive HIPAA security risk assessment and ensure that your healthcare organization maintains its integrity. In order to understand your security and technology risk, you need to understand the workflows when you are dealing with confidential PHI. The security risk assessment process starts with system characterization after which you identify threats and vulnerabilities. Then we help you perform a control analysis and determine the likelihood of any risks and the impact they may bring. We then give recommendations on how to counter those risks and finally document the results.
HIPAA Compliance Services
With a dedicated team of HIPAA compliance experts, at Folio3, we ensure that you stay ahead of your HIPAA obligations with the least possible effort as well as cost. We help you maximize your reimbursements and become HIPAA compliant before you know it. Our compliance services include assessing your existing IT and operational environment to find any gaps that exist and then developing a custom HIPAA compliance risk assessment solution tailored to the needs of your organization. We then help you manage your compliance with confidence by training your employees and offering support along the way.
HIPAA Audit Services
We have a history of successful assessments and audits that have helped us build more ways and models to ensure that you get reliable, working solutions for all your HIPAA auditing requirements and challenges. The auditing services we offer enable you to be completely confident when a HIPAA audit takes place. We first do a compliance assessment in which we do a one-on-one mapping of every HIPAA clause there is ensuring that you don’t miss a single thing. We then deploy sector-specific checklists and offer tailored consulting to help meet your unique requirements and solve your challenges. We offer the following audits:

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A HIPAA risk assessment consultant usually works at a HIPAA consulting services company. He or she is typically a knowledgeable compliance expert with a thorough understanding of the HIPAA regulations and associated legislation. The consultant works with you and helps you become and remain HIPAA compliant. Third-party risk assessment is often necessary to get an unbiased view and approach on your operations and to help conduct a detailed and accurate assessment of any potential vulnerabilities and risks to the integrity and confidentiality of your Protected Health Information (PHI).

Is HIPAA risk assessment mandatory? The question is often thrown around a lot and the fact is that, in theory, no it isn’t. However, HIPAA risk assessment can easily be called HIPAA mandatory risk assessment because of how critical it is for the growth, profitability, and reputation of your healthcare practice. This is because the cost of a breach is too much whether in terms of monetary costs or in terms of reputation.

About how often is a HIPAA risk assessment required, the regulations state that they need annual audit documentation. But if the question is how often should a HIPAA risk assessment be done, it can vary from one organization to another. The recommendation is to review periodically whenever there is some major change in operations or workflow, or annually at the very least.

If you’re wondering how to do a HIPAA risk assessment, and not sure about it, you can always hire a HIPAA security risk assessment IT company to take care of it for you. But if you’re wondering what HIPAA risk assessment looks like, and what should be in the HIPAA risk assessment report, it’s fairly straightforward. The report consists of the following elements:

  1. Introduction
  2. The need for risk assessment
  3. Scope of your document
  4. The approach or methodology you are following for risk assessment
  5. Participants and roles responsible
  6. Information gathering techniques
  7. Risk scale
  8. System users and system-related information
  9. Threat and vulnerability identification
  10. Security measures to mitigate risk
  11. Results of risk assessment

HIPAA risk assessment helps your healthcare company ensure compliance with the administrative, technical, and physical safeguards pertaining to HIPAA and its regulations. HIPAA risk assessment software pricing can vary between development companies and also between healthcare organizations because it would depend on the size of the organization and any specific requirements and procedures followed. In general, the average HIPAA risk assessment cost for a full HIPAA audit could start from as low as $30000 and go up to as high as $60000. Even so, if the question arises that what is the HIPAA security risk assessment cost that may be incurred, please bear in mind that it largely depends on a variety of factors as mentioned before.

Healthcare organizations of different sizes can’t work with the same standard risk assessment solution because it would never give accurate results. There is a different solution for HIPAA risk assessment for business associates just like there is a different HIPAA security risk assessment for a small physician practice. You can look for companies that have more experience in building solutions for healthcare organizations of a size similar to your organization. Folio3 has the experience of over a decade making custom HIPAA risk assessment solutions for companies of all sizes customizing the solution not only according to the size of the company but also according to your unique needs and challenges.