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A very important moment for U.S cybersecurity regulation, and an important moment for executives of U.S healthcare companies responsible for cybersecurity. As Senators. Ron Wyden, and Mark Warner put forward a Bill to amend the Health Insurance Portability and Accountability Act (HIPAA).
A Bill that directs The U.S Federal Agency Health and Human Services (HHS) to set out ‘Mandatory Minimum Cybersecurity Standards for health care providers, health plans, clearinghouses and business associates. In light of the events that affected United Health and the U.S economy in 2024.
Why is this Bill so important, the penalties for non-compliance are well worth paying attention to? The Bill specifically sets out Civil and Criminal Penalties for the directors of cover entities. Penalties that include up to $1 million dollars in fines, up to 10 years in prison or both for compliance failures to manage cybersecurity.
If the Bill passes both houses and gets signed by the President, it will set out minimum cybersecurity requirements for the protection of health information. Requirements that do not appear to have found their way into other U.S legislation with specific documented civil and criminal penalties associated with them, least of all for the U.S Healthcare industry. An industry that has been a focus of hackers over the past 5 years.
The next question will be, how will healthcare providers comply and how will boards react with the possibility of the penalties associated with non compliance?
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Rachel V. Rose, JD, MBA
Veritas GRC U.S. Department of Health and Human Services (HHS) Senebria
#cybersecurity #cyberriskmanagement
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