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Thursday, 8th March 2012

The Financial Impact of Breached Protected Health Information

Source: American National Standards Institute

From the publication web page:

The Financial Impact of Breached Protected Health Information: A Business Case for Enhanced PHI Security explores the reputational, financial, legal, operational, and clinical repercussions of a protected health information (PHI) breach on an organization, and provides a 5-step method – PHI Value Estimator (PHIve) – to assess specific security risks and build a business case for enhanced PHI security. This tool estimates the overall potential costs of a data breach to an organization, and provides a methodology for determining an appropriate level of investment needed to strengthen privacy and security programs and reduce the probability of a breach. A detailed example of costing a PHI breach using the PHIve method is provided.

The Financial Impact of Breached Protected Health Information: A Business Case for Enhanced PHI Security also offers information about:

  • the stakeholders involved in the health care ecosystem;
  • the evolution of laws, rules and regulations designed to protect PHI;
  • the causes and increasing number of data breaches;
  • the most common threats and vulnerabilities to the security of PHI;
  • safeguards and controls that organizations can put in place to mitigate the risk of a breach; and
  • current industry practices and attitudes for protecting PHI, based on a survey.

+ Link to download full report (PDF; 2.64 MB; free, but registration required)



Peggy Garvin, of Garvin Information Consulting, is the author of United States Government Internet Directory (Bernan Press) and Real World Research Skills, 2009 (TheCapitol.Net). In her 20 years in the information business, Peggy has managed electronic information products and services in a variety of environments, including commercial publishing, e-commerce, law firms, and the Congressional Research Service of the Library of Congress. Peggy's work has been recognized with the 2011 SLA Dow Jones Leadership Award. She has a Masters of Library Science degree from Syracuse University School of Information Studies.

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