Do Healthcare Providers Need a SOC Audit?
Patients look to avoid risky healthcare providers. When looking to use your services, they want to ensure complete security of all their data and information. The best way to do that is with an independent auditor. As healthcare security breaches continue to climb, it’s important for healthcare businesses to demonstrate their commitment to keeping health information secure, providing quality healthcare services, and putting their patients first. You can earn their trust by investing in a SOC audit for healthcare providers.
SOC 1 Report is a report on controls relevant to user entities’ internal control over financial reporting. SOC 1 reports generally apply to third party administrators.
SOC 2 Report focuses on a business’s non-financial reporting controls as they relate to the following assertions: security, availability, processing integrity, confidentiality, and/or privacy. SOC 2 reports generally apply to managed service providers.
It’s become more common for organizations to request that vendors become SOC certified so they can ensure that the healthcare organizations they work with are as secure as they say. If your healthcare business suffers from a data breach, the negative impact to your reputation would be a ripple effect that can be expensive and time consuming to control.
What Are the Benefits of a SOC Audit for Healthcare Providers?
For healthcare providers, becoming SOC certified can…
- Assure patients that you have efficient medical billing services.
- Validate your internal processes and controls.
- Recognize any holes that exist in your processes.
- Show clients that your organization manages information with care.
In addition to these benefits, getting SOC certified can be leveraged in brand building efforts. You can market your organization as having reliable and secure services, verified by an independent entity. This can help you stand out from the competition, reduce the costs of repetitive audits, and satisfy all clients and patients.
For more information on how to get the process started for your healthcare organization, contact us.