Know Your Patient – A 360° view of patient identification in healthcare
WHO reported that 10% (7.2 trillion US dollars) of global GDP was spent on healthcare in 2015. While global healthcare spending is expected to reach $10.59 trillion by 2022.
According to Keeper Security, nearly 53% of global healthcare organizations experienced a cyber attack in the last 12 months. The HIPAA journal states that there were 3,054 healthcare data breaches involving more than 500 records, during 2009 – 2019, causing loss, theft, exposure, and impermissible disclosure of 230,954,151 healthcare records.
Healthcare is evolving from patient care, medications, to technically evolved traditional medicare operations. No-cut surgical techniques and robotic healthcare is the new norm. On the other hand, pharmaceuticals are utilizing real patient data to conduct extensive research for the invention of next-generation medicines. However, medical identity fraud is rapidly increasing. Medical identity theft is nothing new, the more advanced technology grows, more sophisticated medical identity frauds become and regulatory authorities are now more active than ever.
Patient verification is a vital part of healthcare and it can help in achieving goals like combating fraud and delivering better healthcare. Know Your Patient verification can help combat medical identity fraud and comply with the KYC/AML regulations. Shufti Pro’s Know Your Patient (KYP) verification is a great way to combat fraud while verifying patients in seconds.
Read this whitepaper to discover the role of Know Your Patient (KYP) verification in the healthcare sector and the benefits of digital patient verification.