According to a breaking news report on insidePatientFinance.com, the U.S. Department of Health and Human Services last night released the long-delayed omnibus regulations package that contains wide-ranging changes related to healthcare information security, compliance, jurisdiction, and enforcement.
These regulations have been percolating for more than two years. HHS estimates that it will cost providers, insurers, and their respective partners as much as a $225.4 million to implement the changes.
The biggest impact will not be on providers, but on their business associates, such as collection partners, who will be required to spend as much as $113 million to come into compliance with the new regulations. Business associates will now be “directly liable for compliance,” according to HHS.