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You may wonder what health
information would be stored
in an accounting system, but
many healthcare organizations
include patient names in
financial records which may
subject their accounting
system to HIPAA requirements.
Make sure you ask NetSuite
if their system offers specific
functionality and assurances
that your PHI data will be
protected.
Even if your organization doesn't require a HIPAA-compliant financial system today, you may need
one in the future. Sage Intacct not only has the tools in place to meet HIPAA requirements to
audit PHI data access, but is also Sword & Shield certified for HIPAA compliance. Sage Intacct
will sign a Business Associate Agreement (BAA) to formalize its commitments around HIPAA.
The penalties for non-compliance with HIPAA are steep and may even include criminal liability. To
learn more about Sage Intacct's HIPAA-compliant solution, click here to read the datasheet.
As a finance leader, you understand that moving to a new accounting system is a big undertaking.
If you are considering moving to a new accounting system now or in the future, make sure you
know the answers to these three questions.
Are You a Healthcare
Organization
Considering NetSuite?
Make sure you ask these
three critical questions
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A Business Associate
Agreement, or BAA, is the
contract you need your
vendor to sign that spells out
specifically what the vendor
(the "business associate")
has been engaged to do with
the PHI and the standards
of protection for that PHI. Be
wary of any vendor that won't
agree to sign a BAA.
If you are a healthcare
organization whose financial
system must comply with
HIPAA, you need to know
that the systems you have in
place give you confidence that
PHI data is kept private and
secure and access to PHI is
tracked as required by HIPAA.
If you need HIPAA-compliant
financial systems today and
you're considering NetSuite, it's
imperative that you understand
how compliance is established.
Can I store, process
or transmit protected
health information (PHI)
in the NetSuite system?
Will NetSuite sign a
Business Associate
Agreement (BAA)?
What options do I have if
I need HIPAA-compliant
cloud financials?
D A T A S H E E T
