The surge in cybercrime cases has been alarming especially in the medical sector. Research shows that more than 175 billion data have been stolen in the last ten years. This is almost half of the US population which shows risks for both patients and service providers. Medical records of patients have been sold for double amounts as compared to small data breaches of credit cards. Data breaches include hacking, theft, and unauthorized access, and use it to their advantage. In most cases, victim companies of data breaches are pharmacies, hospitals, clinics, pharmaceuticals, and insurance companies. These illegal activities put a strain on the company’s reputation and its finances, therefore affecting the process of patient onboarding.
The companies like insurance firms, labs, and drugstores should opt for proactive measures to combat cybercrimes and other illegal activities. The data should be protected with end-to-end encryption that has confidential information of both patients and staff. Companies should comply with local and global regulations and disciplinary restrictions.
The Big Thing In Healthcare Sector
Research shows that uncontrolled and unauthorized access to data results in data breaches that rise up to 34%. Fraudsters access the data through malicious software to hack the data. Fraudsters use impersonated IDs to access the security system in the healthcare sector. This activity is most common in digital platforms where identity theft is left-hand work for fraudsters. Age verification is also vital before prescribing drugs to patients. The KYP system enhanced the level of security providing a well-renowned and trustworthy institution for everyone.
The Working Process of Know Your Patient (KYP)
Checks to Verify Identity
The Know your patient (KYP) system requires online verification of patients. Patient verification is vital to protect the healthcare system. The system required patients documents like NIC, driving license, and photographs, so the account of an individual will be registered online to verify patient identity. In the second step, the individual is then asked to upload their selfie using a webcam or cellphone. The system will verify the face and compare the uploaded documents and photos with the person. If the results match each other, the algorithm moves forward to the next step.
Patient Age Verification
Identifying patient age in the medical sector is a significant issue. Know your patient runs age verification checks before prescribing the drugs to patients. The process of age verification makes sure that the person’s age is in accordance with the records provided. The data is then extracted from the document and then compared with the information uploaded on the portal by the user.
Background Checks
Moreover, adverse client screening is performed against AML compliance, and global sanction lists that the user has never been involved in any illegal activity. After the complete verification, the patient’s account has been created. Regulatory authorities make sure that the data is properly secured. Every organization that handles customer data now makes it mandatory to integrate security software and patient verification checks to combat any kinds of fraud. This will save the system from getting infiltrated by fraudsters.
How Online ID Verification Can Prove Beneficial?
Technological advancements bring the utter need to perform ID verification for pharmacies. These solutions necessitate the need for a biometric identity verification system that is not just restricted to fingerprint scans but it also includes face verification as well. This in turn made the user experience better. It provides more financial harm to individuals when their data gets stolen and they can even access their insurance records. A fraudster can use this technique to get medical insurance and acquire some medical prescriptions. If the fraudster keeps roaming everywhere, this will only increase the risk of rising identity theft cases and produce an overall negative impact on patients’ health.
In A Nutshell
For both the businesses and the patients, individual data is a key asset. Before connecting with individuals online, make sure that you’re speaking with a real person. The parts of data that are confidential must be kept and maintained in order to prevent cybercrimes and data breaching activities. The data integrity must be kept to ensure that appropriate data is matched with the correct and reliable source. The requirement to know your patient’s identity is critical in both the medical and financial sectors, and this fact may surely aid in the prevention of identity theft and criminal conduct.
