Top 8 Myths Related to Security Risk Assessments

Planning and managing the normal operations of a company without any security risk assessment is quite risky. This is because it exposes them to online data breaches and threats. Companies use various tools to keep themselves protected from data breaches.

When I started my company, I subscribed to Spectrum internet philadelphia to get free antivirus protection. I also used to do an EHR review every six months to make sure I stayed on top of things. But still, many myths are surrounding this process as well. Read on to know more about them.   

What is a Security Risk Analysis?

Every company has to do security risk assessments now and then by HIPAA. It is an essential step that involves the review of your operations and devices. It helps to prevent the loss/theft of valuable company-related information.

Some Myths Surrounding SRA

Because it is a complex process, it has become surrounded by many misconceptions. These misconceptions prevent companies from reaching their full potential. It also exposes them to even more risks. Some common myths surrounding this process are:

It Is Quite Costly

This is not always the case. There are multiple strategies that you can employ to reduce costs and carry out an effective analysis. You can either develop reliable software or hire services from a risk assessment firm. If that is not affordable for you, you can hire experts to maintain an Excel spreadsheet related to all kinds of security threats. No matter which option you might choose, you should make sure that all strategies and methods are up to date.  

Small Providers Can Skip This Step

It is important to remember that this step is not optional for any firm. You need to undergo this step if you want to avoid future penalties. So, even if your company size is quite small, make sure that you don’t skip this step.

There’s another reason why small companies should definitely do SRA. This is because since the data size is quite small, hackers can attack and steal it easily. So, never think about skipping this step just because your firm size is small.   

You Don’t Actually Need It

Several companies underestimate their importance. They think that without it, they can manage their operations easily. But it is only after a data breach that the true value of SRA can be realized. It can help you identify the weak areas in your company. The management at every level can work together to eliminate the chances of these risks. So, to avoid bigger financial investments and penalties, it is a better idea to timely invest in this process.

You Need to Do It Once Only

Doing this analysis just once is not enough. Your operations tend to get more complicated with time. So, outdated security measures won’t be able to secure your data. It might be a good idea to do a security risk assessment every 6 months or so to keep your company more secure. Also, when you’re incorporating a new process or a new gadget, it is a good idea to do SRA to eliminate any risks.

An EHR Vendor/Insurance Is Enough for Risk Assessment

Quite contrary to popular belief, an EHR vendor or insurance can’t save you from bearing the additional costs related to data breaches. If you don’t take timely measures, you’ll certainly encounter a data breach. This data breach can even make you lose your job. The insurance company won’t bear the costs in any case. You’ll have to resign and pay the fine as well.

Similarly, an EHR vendor can’t be useful in this area. This is because it only focusses on facilitating you in using its service/product. You’ll have to manage everything else that is related to security and protection by yourself. So, make sure that you don’t compromise on the security measures just because you have the support from an EHR vendor.   

It Is Okay to Rely on an Effective Checklist Only

You need to realize every firm has a different kind of security needs. So, there is not a specific checklist that you’ll have to follow. Just determine your goals and operations. And then identify the risky areas. In this way, you won’t skip any area. It will also ensure better protection for your firm if you don’t make a checklist.

An EHR Review is Enough for Effective SRA

It is not enough to review the EHR only. This is because hackers can access your private information from any user device. So, even if you store data on a device temporarily, it is a good idea to secure that device as well. It will enable you to eliminate any chances of threats/breaches.

You Need to Rethink SRA for Every Year

Contrary to popular belief, you don’t need completely different SRA every year. You just need to keep track of the changes and update them to revise your SRA process. Doing so can help you cut your costs and reinvest the savings. For instance, my timely review of SRA enabled me to subscribe to one of the very remarkable spectrum package deals. By utilizing this company’s reliable services, I was able to offer training and online courses to my employees. Since then, I have advised my friends to follow this method as well.