Consequences of Medical Identity Theft & Healthcare Data Breaches
Tags: Data Breach, Healthcare, Fraud Prevention
An estimated 1.4M Americans were victims of medical identity theft in '09. This white paper addresses the impact of a breach to consumers and the business and provides data to support the conclusions.
A Follow Up to Dr. Larry Ponemon's 2010 Global Privacy Summit Presentation. The consequences of medical identity theft to consumers can be severe. According to a national Ponemon Institute survey on Medical Identity Theft, 55% percent of respondents had to make out-of-pocket payments to a health plan provider or insurer to restore coverage and 48% lost their healthcare coverage. While medical identity theft is only 5% of all reported identity theft incidents, it is expected to increase dramatically as new federal regulations defined in the HITECH Act provide incentives for healthcare providers to quickly move medical records online. Medical identity theft is a great concern not only because of its rapid growth rate, but because it is the most expensive and time consuming to resolve of all types of identity theft.