What is the Cost of HITRUST Certification?
Small and medium-sized organizations often ask about the cost of HITRUST Certification. Patient data security is critical, so we always recommend considering HITRUST as a long-term goal to foster compliance and cost-effectiveness. HITRUST certification goes beyond being a mere checkbox on a compliance list. It is pivotal in maintaining a robust security posture and fostering stakeholder trust. Recent data reveals that 79% of healthcare organizations have experienced data breaches. This emphasizes the critical need to safeguard sensitive healthcare data, a goal achievable by pursuing HITRUST CSF certification. What is HITRUST CSF Certification? HITRUST was established in 2007 to address security and privacy concerns related to sensitive information, including medical records. HITRUST created the Common Security Framework (CSF), which can be used by any organization that creates, accesses, stores, or exchanges sensitive data. It is a cybersecurity risk management framework that helps healthcare organizations assess the effectiveness of security data. Achieving HITRUST certification requires the implementation of necessary controls in the designated environment. Voluntary yet pivotal, HITRUST aids businesses in aligning with mandatory regulations such as HIPAA, PCI DSS, and ISO 27001, making it a proactive framework for organizations navigating the complex terrain of data security. Types of HITRUST Assessments HITRUST e1: 1-year Validated Assessment HITRUST i1: 1-Year Validated Assessment HITRUST r2:2 Years Validated Assessment (Risk-Based) Who Conducts HITRUST Certification? The HITRUST assessment is conducted by an independent third party, specifically a HITRUST-certified assessor, Accorian is an authorized HITRUST CSF assessor. These assessors are authorized to aid in remediation efforts, perform assessments, and/or provide certification services. This applies to all industries handling Protected Health Information (PHI) and/or Personally Identifiable Information (PII). How Can HITRUST Assist My Business? Table Stakes</h3 > Companies must adhere to strong information security practices to become healthcare industry leaders. Among the various security credentials, HITRUST certification stands out as the preferred choice sought by clients who are looking for suitable vendors. Achieving the HITRUST framework increases the opportunities for organizations to expand their TAM (Total Addressable Market) and enhances their revenue potential. Recognized as the Gold Standard</h3 > According to research conducted by HITRUST, organizations that pursue HITRUST CSF certification witness remarkable improvements in their information security posture, with an impressive 97% of organizations successfully achieving and sustaining a robust security posture. Reduces the Risk of Cyber Attacks and Data Protection</h3 > HITRUST CSF Certification contributes to the robust security of health data, intellectual property, and other proprietary information, bolstering data security and mitigating data breaches. Shorter Future Audits</h3 > HITRUST’s robustness and comprehensive approach make achieving secondary security standards easier through established policies and controls. What is the Cost of HITRUST Certification? The HITRUST certification cost is contingent upon various factors: Your organization’s risk profile The assessment’s scope The assessment type Size of the organization Security maturity Compliance level The HITRUST CSF Assessor evaluates these elements. Additionally, HITRUST costs are associated with purchasing the validated HITRUST report and undergoing the assessment process. What is Included in the Cost of HITRUST? Acquiring HITRUST certification includes certain direct and indirect costs. Direct costs include: Granting access to MyCSF corporate portal Identifying gap analysis in the existing security measures Conducting a readiness assessment to evaluate preparedness Performing a Validated Assessment as part of the certification process Offering guidance and advice throughout the entire certification process Indirect costs include: Managing and overseeing the certification process Recording and regularly updating security data Setting up the initial configuration of systems and processes Developing corrective action plans and executing remediation efforts Assisting in identifying and submitting the required documentation Accessing other services offered by the HITRUST Authorized External Assessor How Long Does it…View More