Choosing technology providers that you can trust is critical. This is especially true in the healthcare industry. For companies entrusted with a client’s confidential health information, selecting the right service providers can mean the difference between peace of mind and major worries about risk. One way to achieve that peace of mind is to verify that your technology service providers have earned a third-party seal of approval, such as the SOC (SM) certification.
Achieving a SOC (Service Organization Control) certification means that an independent Certified Public Accountant has examined the internal controls that a service provider has put in place. Developed by the American Institute of CPAs (AICPA) and the Canadian Institute of Chartered Accountants (CICA), these controls can relate to financial reporting or to the security, availability and processing integrity used to process client data, as well as the confidentiality and privacy of the information processed.
Optima Healthcare Solutions has successfully completed the SOC 1(SM) Type 2 report following an audit by McGladrey LLP; SOC 1 Type 2 evaluates the fairness of management’s description of the system, and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives. Currently, Optima is also in the process of achieving SOC 2 Type 2 certification.
Making it Easier to Address Risk
Why should a healthcare company worry about the controls used by its service provider? Because it is the healthcare company that its board of directors, customers, shareholders and government regulators hold responsible for establishing effective controls over outsourced processes. That’s the value of SOC reports – they provide objective, trustworthy information that helps companies assess and address any potential risks of outsourcing.
Learn More about Reducing Your Risk
According to the FBI, the healthcare industry is less prepared than retail or financial service companies to cope with even basic cyber attacks. Read the blog post Get “HIPAA Serious” about Information Security, or post a question below to learn more about our commitment to data security and how Rehab Optima can help your business reduce risk.