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HIPAA and how it will affect your pocketbook

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    HIPAA and how it will affect your pocketbook

    HIPAA is this new regulation for the entire healthcare industry. This would require all healthcare companies to computerize all records. This is going to be almost as big as Y2K for consulting companies which have expertise in this area.

    There are also some ASP/VSP that specialize in providing services to healthcare companies. They will reap benefits from it too.
    The greatest trick the devil ever pulled was convincing the world he did not exist. And like that... he is gone.

    #2
    Many healthcare system are now handling patient information electronically and advantage is obvious that health care providers can communicate electronically and share the information easily. "Talking HIPPA means complying with certain regulations". All health care organizations will have to update their systems to comply with the regulations mandated by HIPPA. Which means new software etc will be in use.
    Not only it will increase the cost but also things will take a little longer to happen initially.
    I think our pocket book will sufferhttp://www3.pak.org/gupshup/smilies/frown.gif(


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      #3
      Yes it increases short term costs for the healthcare providers but in long trm it increases efficiency and decreases cost..thus the possibility of the actual costs being passed to end consumer is minimal.

      But for investors it means possibilities of gains if you invest in consulting practces and software houses which will gain from the HIPAA legislation.
      The greatest trick the devil ever pulled was convincing the world he did not exist. And like that... he is gone.

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        #4
        You are right its high initial cost with more efficient end product. My organization is trying to go all computerized these days. So they are trying to create a so called "paperless office" and all enteries are now made in office management softwares. Obviously personels were hired to develop these softwares to meet the requirement. So there was some money involved but talking about people & computers is another story. People try get things done like old times but computers do not accept those. Small differences in terminology causes a chaos and we all complain. Interesting!

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