HIPAA
Health Insurance Portability and Accountability Act
Summary
US law for data privacy and security provisions for safeguarding medical information.
Applies to
Healthcare organizations, insurance companies and their business associates.
Example
A hospital managing patient medical records.
Benefits
Enhanced patient data security, trust.
Non-Compliance Risk
High risk of financial penalties, legal action.
Fines
Up to $50,000 per violation, with an annual maximum of $1.5 million.
Effective date
April 14, 2003
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