Know Your Patient (KYP)
After Know Your Business (KYB) and Know Your Customer (KYC) regulations, authorities have announced a new standard to comply with. KYP is the new standard so far set for the healthcare sector due to the high emerging rate of fraud. For instance, prescription, insurance, and age frauds are putting the legit service providing at stake. Therefore patient verification has become mandatory for the healthcare providers to ensure that the patient of the right age is granted permission to buy drugs and medicines. However, hospitals or other centers which are identifying patients are at less risk of fraudulent activities. Over the next five years, experts predict a major health technology disruption of $808 billion. Since the HITECH Act of 2009 was put into force, medical records have now gone online. So much so that verification of patients’ identities has become a common notion, and legitimate medical care has become a reality. These trends have checkmated the traditional healthcare systems, making them a thing of the past.
HITECH Compliance; An Insight
The Health Information Technology for Economic and Clinical Health (HITECH) Act was documented in 2009. Under its guidelines, it has been made mandatory for all healthcare-providing facilities to adopt electronic health records (EHRs). Also, obliged them to assure protection of medical records in the database as well as their privacy and security. For HITECH compliance, the EHR must be implemented for prescription registration, clinical decision support, and patient record tracking, among other cases.
Verify Patient Identity; A Necessity
The healthcare sector has faced many challenges especially due to the coronavirus pandemic. Cybercrime has increased dramatically and this industry has become the main target for crooks. However, to overcome this menace modern technology has come up with advanced benefits to hold up the industry. But, alongside criminals also have started to use improved technologies to carry out their malicious intent. Even the forecast for frauds of 2021 is not very satisfactory. As per BBC’s predictions, the healthcare sector will be more vulnerable by coming to the forefront of cybercrimes in the upcoming years. To sustain this, several types of research have been carried out showing an increase of around 50%. The side of the coin shows that online patient age verification along with identities can very much improve the efficiency as well as the quality of services.
How to Secure the Health Sector with Know Your Patient (KYP) Compliance
The Healthcare sector is in dire need of robust identity verification measures to protect patients against medical identity theft. Know Your Patients (KYP) is a solution to ensure that the desired ones are getting the facility’s legitimate attention. These guidelines are backed by state laws and compliance failure can lead to heavy penalties. According to the aforementioned regulations, healthcare establishments must follow patient identification protocols which will guarantee:
- Medical Identity Fraud Prevention
- Sales for Prescribed Medicines
- Better Regulatory Compliance
Maintenance of Updated Patient Records AI-Based Real-Time Verification Solutions
With AI technology emerging in the market, many providers tried to get hold of it and inculcate it in almost every sphere for better and authentic experiences. Likewise, online sites are providing AI-based identity verification solutions which identify the patients in real-time without hassle. Alongside, it ensures KYC compliance and supports the providing of telemedicine and care to ensure authentic onboarding.
Data Security and Protection
The healthcare sector in the past and now has always been the favorite place for criminal activists. This urges the need for data protection along with security assurance from the healthcare facilities’ side. The readily available way is to comply with regulations established by HIPAA and GDPR. this will, in turn, help the industry to prevent illegal opting for services, identity theft, and breaches in the systems.
The healthcare sector, especially hospitals, is the area where cyber-attacks and scams are in a large number. Free treatments and insurance benefits are manipulated by the crooks using fake records and forged identities. Therefore, to put a barricade in way of such activities, KYC services are available to help the healthcare sector. This technology allows facilities to verify the patient by video in real-time.
Documents Used for Patient Age Verification Along with Identity
The inability of any healthcare providing facility to accurately verify patients and their needs will lead to misinterpretation of the kind of treatment. For instance, medication, test, procedure, and transfusion errors. Therefore, records should be carefully kept and patients verified by using ‘two identifiers’ serving as a double-check. The identifiers are:
- Name (one on the Original ID)
- Medical Record Number (identification number)
- Social Security Number
- Contact Number
- Date of Birth
- Insurance Details