HIPAA Risk assessment is often regarded as the first step towards HIPAA compliance. Risk analysis is a required implementation specification under the Security Management Process standard of the Administrative Safeguards portion of the HIPAA Security Rule as per Section 164.308(a)(1). Covered entities will benefit from an effective Risk Analysis and Risk Management program beyond just being HIPAA compliant. Compliance with HIPAA is not optional... it is mandatory, to avoid penalties.

Objective of HIPAA Security Risk Assessment / Analysis: The overall objective of a HIPAA risk analysis is to document the Potential risks and vulnerabilities to the confidentiality, integrity, or availability of electronic protected health information (ePHI) and determine the appropriate safeguards to bring the level of risk to an acceptable and manageable level. It helps in ensuring that controls and expenditure are fully commensurate with the risks to which the organization is exposed

List of documents in HIPAA Security Risk Analysis Template

• Asset Inventory Worksheet
• Risk Analysis Checklist
• Risk Analysis Sample Final
• Risk Analysis Template
• Risk Assessment Executive Presentation
• Threat Matrix Worksheet