Know Your Patient – Countering Identity Theft in the Healthcare Industry

The healthcare industry provides medical services to patients from various origins and backgrounds. It is the right time for the hospitals to think out of the box as the privacy and security of patients’ data are at risk of identity fraud and data breaches.

A significant problem that every industry is challenged with, can call it manipulation/scam or something else. Identity theft is surprisingly affecting every single industry out there, because of this fraud companies have to bear huge losses. Only in the United States 42 million people were victims of identity theft and lost $52 billion in 2021. There are 20 million people that are affected by the AMCA data breach in 2019.

What is Know Your Patient (KYP)?

The main reason why the healthcare industry strives for patient data security is to adhere to HIPAA and HITECH regulatory requirements. However, it is not enough for security to comply with regulatory requirements in this advanced digital age. Medical records include a vast amount of valuable and sensitive data, making healthcare organizations a prospective target for cyber crimes. By offering online patient verification, Know Your Patient or identification screening of patients is called upon to secure online operations.

 

Most of the industries out there verify their customers’ identities digitally. The healthcare sector has improved services efficiently and secured all kinds of patient identity information with KYC solutions.

How Know Your Patient Works

Verify Identity for HIPAA regulations

The effective creation and handling of electronic records is ensured by a number of legislative guidelines in the healthcare sector. 

HIPAA regulations are designed to allow for electronic records to be created and maintained efficiently while maintaining proper controls over their integrity and use.

Overcome Mistakes in Information

Legal restrictions make it extremely difficult to revise the inaccurate information that has been entered into a medical record. As a result, patients and hospitals may experience serious issues because of these errors.

 

At the beginning of the service, accurate identification verification will help to protect the patients and reduce losses from erroneous invoicing and false claims.

Rebuts the Medical Identity Theft

Unfortunately, medical data breaches happen and affect millions of healthcare records annually in the US alone. Since they have data that can be used to get medical services. Know Your Patient

Improves Patient Identification 

Healthcare services are increasingly being used digitally. As digital healthcare industries starts being more smooth and prevalent, the need for effective and efficient digitally identity verification is increased. Online identity verification processes improve patient experience and avoid fraudulent use.

The Process of Know Your Patient (KYP) 

 

Identity Verification: By presenting their ID document with a photo, the user uses their mobile device’s camera. The AI-based system validates the identity and face, by matching the information from ID documents with the information provided by the consumer at the time of registration. The KYP system allows businesses to verify forged or photoshopped documents and their requirements. 

 

Biometric Identification: Authentication of the liveness of the individual taking part in the online screening process is ensured by the liveness detection tool.

 

Patient Age Verification: The identification system also allows the verification of the date of birth.

 

Finalizing: After completing the process, data is updated into the database and notify the users about their status.

Importance of Know Your Patient (KYP)

By extending the concept of digital KYC, Know Your Patient is equally significant in the medical industry. The first step in battling prescription fraud, cybercrime, and data losses, and identifying the patients. Every patient should have their identification verified, and effective delivery techniques must be used to give real patients their test results, medications, reports, and papers.

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In order to gain access to a customer’s personal information, fraudsters assume the customer’s genuine identity to enter the medical security system. As a result, the data is exploited for harmful purposes that may lead to a client’s harm. A data breach can result from identity or credentials theft in electronic services; additionally, clients should be verified as to their age before receiving prescriptions. Therefore, ID verification for pharmacies and other healthcare organizations becomes essential. 

 

To Cut It Short

The verification solutions for patient identification is a remarkable method to battle identity theft crimes in the healthcare industry. With the help of artificial intelligence models, verification services are designed to reduce the likelihood that criminal activity will occur. The integrity of the healthcare sector relies on verification standards like know your patient solution.

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