Physician practices can buy a new kind of stand-alone insurance policy to shield themselves from losing too much money due to privacy breaches. The fines and penalties a healthcare organization might have to pay for privacy breach, such as improperly accessed electronic medical records, can be minimal to fatal. Privacy breaches can cost more than $200 per patient.
Smaller organizations, such as independent practices, might face higher risks for privacy breaches, said Tracey Vispoli,of the Chubb Group of Insurance Companies. Her group has created a security and liability policy for small practices. “Those are the entities that don’t necessarily have an information security person on staff or resources to put around information security,” she said. See the original American Medical News article.