What is a HIPAA risk assessment?
The objective of a HIPAA risk assessment is to identify potential risks and vulnerabilities to the confidentiality, availability, and integrity of all protected health information (PHI) that an organization creates, receives, maintains, or transmits.
The U.S. Department of Health & Human Services (HHS) does not specify a particular risk analysis methodology because covered entities and business associates vary in size, complexity, and capabilities. To meet the objective of a HIPAA risk assessment, HHS suggests an organization should:
- Identify where PHI is stored, received, maintained, or transmitted
- Identify and document potential threats and vulnerabilities
- Assess current security measures used to safeguard PHI
- Assess the proper usage of existing security measures
- Determine the likelihood of a reasonably anticipated threat
- Determine the potential impact of a breach of PHI
- Assign risk levels for vulnerability and impact combinations
- Document the assessment and take action where necessary
HIPAA risk assessments are not a one-time event; they require periodic reviews when introducing new technology or implementing new work practices.
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Join us for a fireside chat with Christina Cacioppo, CEO and Co-founder of Vanta, and Eric Ries, author of The Lean Startup, as they share insights on navigating the modern startup journey. Discover how founders today can adapt to AI-driven innovation and utilize startup principles to find success in today’s dynamic landscape.
Join Vanta’s live product demo to discover how automation, continuous monitoring, and centralized workflows can streamline your GRC program, enhance control visibility, and improve vendor and buyer security management—all within a single platform.
Watch our webinar where leading cybersecurity experts Ciaran Martin and Victoria Baines will discuss findings from Vanta’s second annual State of Trust Report. Understand the risks facing UK organisations, why good security means good business and how to minimise manual security work through AI and automation.
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