The healthcare industry is always the main target of hackers to steal patients’ information and their insurance policies or engage in any other type of fraudulent activity. Hackers always keep healthcare organizations as their primary target due to the significant financial implications. That’s why they monitor patients’ information, potentially using it for future blackmail.
Healthcare organizations need a robust and secure security system for patients’ data and their organization’s data safety. Many health organizations have adopted the ‘Know Your Patients’ (KYP) concept to secure the data. KYC is an authentic and demanding security and identity management system that ensures the healthcare organization’s system is safe and secure, protecting all patient and official data.
The ‘Know Your Patient’ (KYP) concept in healthcare organizations refers to verifying the identity of individuals who interact with the organization. This process is crucial in preventing future money laundering and financial crime issues. When someone tries to open an account within a healthcare organization, they must provide their documents to verify their identity.
How KYC in Healthcare Organizations Works
- Initial Verification: While a new patient gets an entry, this process takes place all the information of the patient, including date of birth, social security number, and health insurance information onboarding the patient. Further, these documents are verified using a few methods, including database verification or government ID verification. Medical identity theft, medical fraud, and other fraud prevention are compulsory, and they are only possible after careful initial verification of patients’ information and documents.
- Reverification: In order to make sure that the provided information by the patient is precisely about them, revivification takes place. This omits the need to reevaluate the information by matching it with government ID verification systems that this person is a citizen, non-residence, or any previous record is appropriate. A more streamlined verification method is an excellent option to consider for re-verifying patients’ documents or the information written on those documents.
Uses of KYP in Healthcare
Different use cases can be applied to make sure that healthcare organizations are properly using KYC:
Telehealth Services, Digital Onboarding Service
Telehealth providers have now introduced digital verification systems when patient onboarding does not take the hassle of entertaining patients in the offices. Nowadays, digital verification systems provide ease to patients, and they do not always want to bring paper copies of their documents to verify; they can get pictures of their documents and verify them by scanning them. Digital scanners are used in healthcare verification. Different types of information are provided by patients to verify them, and their data is stored in the database of those organization’s verification systems to be utilized in the future.
Sensitive information protection of patients
To keep the patient’s information secure, healthcare organizations must ensure that one’s information is only utilized by the concerned department dealing with that patient. It shouldn’t be shared with any other department, and a security system must be involved to make it safer from being hacked or used by hackers.
Identity Theft Threat of Patient Prevention
Medicare and Medicaid recipients or any other hater who, if hacked the information of the patients, can take advantage of the facilities going to be provided to that concerned person. These facilities include medical treatment reliefs, filling prescription discounts, purchasing medicines on their behalf, or obtaining any other benefit for the actual person. Still, a fraud can avail it by hacking the information of that concerned person.
Different Methods of Implementing KYC Program in a Healthcare Organization
Knowing your customer program is very beneficial for implementing it in a healthcare organization. Different methods can be implemented, and an organization can set up any program according to its criteria for working. Here are some of them:
- Selection of appropriate verification method: Verification methods have different types, and one can select which is best for them according to their organization’s strengths and weaknesses. Different verification methods should be implemented in an organization as it is a wise way to have a system on backup. Other methods have various ways of working; the best one should be prioritized. This selection is dependent on your need to work within your organization.
- Verification forms selection and choosing the right one: Multiple verification system selection must be based on the working criteria of the organization but also on the cost- and budget-friendly concerns that must be adequately checked. They shouldn’t be so committed that the organization and patients get disturbed by the hectic procedures of working on that verification system.
Final thoughts
Patient verification is crucial to avoid future money laundering and financial crime issues. In the healthcare department, many of the attendees with patients often need to provide sufficient or correct information about the patient to the healthcare organization. This can cause problems in delivering appropriate health insurance to the patients and securing them from health insurance or any other fraudulent activity.
