The Compliance Formula
New Book Saves Medical Practices From Government Fines And Penalties
“We want to ensure your employees embrace compliance and security,” says Rusty Goodwin, Executive Consultant at The Mid-State Group. “Any company that holds health information should create a compliance culture in their workplace immediately. This alone can save your company from painful financial settlements and penalties.”
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Small Businesses are BIG targets for Cyber Crime
Every day 230,000 new malware are produced.
94% of all malware attacks occur via email.
43% of cyber attacks aimed at small business.
Only 15% of SMBs have good Cyber Hygiene.
According to IBM, it takes on average 197 days to detect a breach.
Those that can detect a breach in 30 days save over $1Million.
75% of CEOs use applications that aren’t approved by IT.
Just How Important IS Compliance?
Companies with over 50k records, average cost of breach is $6.3MM
The average cost of the lost or stolen data record involving PII is $176 per record
Attacks involving compromised passwords cost SMBs an average of $384,598 for each attack
$3.86MM is average cost of data breach
$133,000 average cost of ransomware
It takes an average of 69 days to contain a breach
60% of SMBs who get breached go out of business within 6 months.
Don’t let that be you and your company. Rusty Goodwin unlocks the formula in his new book. A few minutes of reading can save your business.
Money Raised for St. Jude
About the Author
For over twenty years, Rusty Goodwin has specialized in making compliance not only easy to understand but also easy to follow. Drawing on years of experience giving countless presentations to local businesses, Goodwin is able to break down compliance best practices in a way that is manageable for even the newest of businesses and business owners. With Goodwin’s help, hundreds of businesses have saved and earned more money.
Helping Small Businesses Become Compliant
Being compliant doesn’t have to be disruptive anymore.
In 2022 almost 60,000,000 people were affected by HIPAA violations/breaches.
As of 2022 fines and penalties for HIPAA violations can reach as high as $1.9 million.
Some HIPAA violations can result in criminal charges for the offender.
There are an average of over 30,000 HIPAA complaints investigated every year.
Dispelling the Myths About Compliance
Compliance is too expensive
So many leaders think they cannot afford to take the steps to become compliant but the fact of the matter is, you cannot afford not to be compliant. The average cost of a password breach is over $350,000.00. The average ransomware attack costs $133,000.00. A average cost of data breach for a company with over 50K records is over $6,000,000.00.
Compliance is too disruptive
Too many people don’t want to take the extra few seconds to use Multi-Factor Authentication or log on to a VPN. Too many won’t take the time to take a second look at emails before clicking because they feel it is too disruptive. The reality is, 60% of small to medium sized business go out of business within six months of a breach. On average it takes more than six months to detect a breach and by then, the damage has been done.
“My company is too small to matter. It’ll never happen to us.”
There is a saying about companies that have been hacked. “You are not too small to be hacked, you are just too small to make the news.” The reality is 43% of all breach attempts are aimed at small business. The other reality is that only 15% of these small business practice good cyber hygiene. Don’t be an easy target.
“I have insurance so I don’t have to worry.”
It’s amazing how many organizations think that buying insurance takes away their risk. That is like believing that because you have car insurance, you will never have an accident. Insurance simply transfers the risk of unexpected event to an insurance company. The organization ultimately owns the risk and is expected to manage that risk appropriately. This is done by creating a strategy using Governance, Risk Management and Compliance.
Compliance is only an IT problem
Too many leaders place the whole burden of compliance on the IT department or on their external Managed Service Provider. This is DANGEROUS! Security and Compliance needs to be prioritized and practice throughout the entire enterprise. If you place all the responsibility on one department alone you have already failed. In fact, 75% of CEOs use applications that have not been approved by IT. Governance, Risk, and Compliance need to be practiced from the top down.
Accelerate your HIPAA compliance now.
HIPAA has been around for decades. It is nothing new. But, now more than ever, it is important to make sure you are complying with the rules of HIPAA. With increased fines, whistleblower rewards and the added scrutiny placed on medical firms and medical centers, now is the time to get your house in order. And, it’s not just the fines and penalties to be concerned about. Civil liability, public relations problems and most importantly, protecting patients from the efforts of bad actors, all point to the need for increased compliance. This book will help you accelerate your path to compliance!
With this groundbreaking book, every single dollar earned will go to St. Jude Hospital and it’s research.
Still Not Sure?
Of course. You might be asking “how can a single book help my company get compliant and start making money?”
You might even say “I thought we were compliant already!”
Those thoughts are perfectly understandable. That’s why, we’ll offer you a completely FREE assessment of your current compliance – no strings attached.
Helping Regional Companies Grow
For over 20 years, I’ve worked with local businesses to help the not only know, but to understand compliance. I’ve always said, if it can be put into terms that I can understand compliance, anyone can. I hope you’ll give me a chance to help you find even more profit for your business today.
“I have worked with Rusty and the Mid-State Group for several years and his knowledge and understanding of governance, risk, and compliance is unmatched in this industry, as is his patience! Rusty works hand-in-hand with us and our clients to develop and implement a variety of compliance frameworks. He doesn’t tell us what to do, he shows us and facilitates the change. Compliance is a culture shift, and oftentimes difficult for businesses to follow and implement if they’ve never adhered to compliance before. Rusty simplifies the process, creates strategies, and fosters growth and stability through his comprehensive approach so that we fully understand our own risk, as well as our clients’, and take the appropriate measures to mitigate it.”
“Rusty and the midstate compliance team have been crucial in helping birdDog Technologies, and our partners in health and human services, facility management and systems management, confidently navigate and execute our compliance policies for data management and security.”