The cost of compliance with the Health Insurance Portability and Accountability Act of 1996 will be less than expected for the hospital industry because of previously implemented revenue-cycle upgrades that meet HIPAA standards, according to Fitch Ratings. Still, providers' HIPAA budgets vary considerably and those with fewer resources are more likely to have deferred upgrades to their billing and collection systems, Fitch said. In addition, cost savings from the standardized claims payments required by HIPAA will be difficult to determine and likely will be attributed to better revenue-cycle management, Fitch said. HHS has predicted that overall savings could reach $30 billion over 10 years, -- by Mary Chris Jaklevic
HIPAA compliance may cost less than expected
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