Jean:
The cost to comply with the Privacy regulation will
be variable based on the size of the organization, the number of employees,
locations and business partners. Also, the number of applications (to remediate)
which transmit PHI along with the Safeguards for the confidentiality, integrity,
and availability of PHI must be taken into account.
The largest cost
factor may be your capital costs would focus on security safeguards(required in
privacy policy section 164.530.C.1 and C.2.)and application remediation and use
and disclosure reporting. Second the recruitment and salary + benefits for a
Privacy Officer. Next, would be the cost of initial and ongoing training. The
next level of cost would be related to internal staff time to perform the gap
analysis and write policy. You may need legal assistance in reviewing the
regulations, writing or reviewing policy, developing a model for business
partner agreements and performing a compliance review. You may spend directly or
indirectly between $250K to $1M+ on this effort. You will spend a lot more if
you approach Privacy compliance separately from TCI and/or Security Compliance.
Since they all overlap somewhat, you will want to identify the points in common
and avoid having to do remediation after each regulation is addressed in a
silo.
Hope this is useful.
Bill Sheffel
William
Sheffel
Business Development Manager - Healthcare
Veritect
10790
Parkridge Blvd. Suite
300 Reston VA 20191
Office:
703.788.9864 Cell: 703-.851-3075
email: [EMAIL PROTECTED]
-----Original
Message-----
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]
Sent:
Tuesday, February 12, 2002 7:18 AM
To: [EMAIL PROTECTED]
Cc:
[EMAIL PROTECTED]
Subject:
I was wondering if anyone could
share any survey information, or actual
information on the cost range of
compliance for privacy.
We are in the process of doing a Privacy Gap
Assessment and won't have
results until early April, but wondered what to
expect.
We are a Health Insurance company with 2.5 million
members.
Any input would be helpful.
Thanks.
Jeanie
Lombardo
Horizon
BCBSNJ
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