Know Your Patient (KYP) verification is the need of the hour. Identity theft is reaching new heights these days, posing a threat to healthcare’s ability to maintain compliance with security regulations. The healthcare sector is more susceptible to data breaches than the general public, so patient verification is critical. According to one figure, nearly 80 million people have been affected by data breaches in the last decade, which cost billions of dollars.
Even though healthcare expenditures are growing every year globally, healthcare providers are still lagging behind in implementing stringent methods to verify patient identity. In addition to delivering healthcare services, healthcare providers should do thorough Know Your Patient (KYP) checks to prevent data breaches involving patients. To combat ID theft, the healthcare sector must use the newest ID verification technologies to verify patient identities and prevent fraudulently identified. Know Your Patient compliance helps them keep fraudsters at bay and secure the sensitive data of their patients’ records.
How Does KYP Aid in the Performance of Patient Verification?
All businesses must take precautions to keep their client’s information safe from fraudsters. Identifying patients is just as vital as knowing your customer or your business since it helps to give security to the patients. Know Your Patient appears to be a helpful tool in verifying patient identification in accordance with patient verification policy in order to prevent data breaching frauds and other data breaches.
Because researchers utilize patients’ data to improve treatment methods and develop new drugs, healthcare providers should be required to provide patients’ data to researchers accurately and timely. Patient identity checks are unavoidable for hospitals to protect patients’ credentials from being compromised. Let’s see how it goes. Knowing your patient helps ensure that the patient is who they say they are.
What is the Verify Patient Identity Process?
The patient uploads a government-issued ID card, such as a driving license or passport, followed by a live selfie, which is then verified. Following that, the AI-powered system compares the patient’s live selfie with the photo on his identification papers to ensure that the individual is really who he claims to be. After the process, the system delivers the result to the back end. The system also carries out patient age verification throughout this procedure since it is a vital need for healthcare professionals to authorize an online patient’s account before granting access to the account.
Even though KYP makes it easier for healthcare practitioners to onboard real patients by streamlining the Know Your Patient process, it also makes it easier to do various other jobs effectively. Let’s have a look at some of the applications of KYP compliance.
Busting Health Insurance Fraud
When a patient’s personal information is taken, the fraudster attempts to claim the patient’s health insurance, which pays a substantial sum of money to the fraudster if successful. Identity thieves also use the stolen patient card to purchase pharmacies and gain access to other health-related services. ID verification for pharmacy checks aids hospitals in preventing false insurance claims from being submitted by their patients and provides complete confirmation of safety.
Stopping the sale of illegal drugs
In order to ensure that regulatory criteria are met, the age of the patient is also confirmed as part of the “Know Your Patient” compliance process. It enables online pharmacies to offer prescription-only pharmaceuticals to individuals who are under the legal age limit, improving the quality of their services.
Medical Services Provided from a Distance
Aside from that, KYP compliance assists telehealth providers in authenticating the identification of patients to onboard genuine users into the system. Online ID theft is less likely to happen because it uses a variety of authentication tests to make sure that only real patients are allowed in.
Key Takeaways
Verifying patient identity compliance enables patients to get medical services remotely by talking with a physician through an online video conference, according to the company. It not only helps patients use telehealth services effectively, but it also helps healthcare professionals stay on top of health rules, so they don’t get fined for not following them.
The ability to Know Your Patient compliance has proven to be a powerful anti-fraud tool in the healthcare business, allowing patients to offer complete evidence of security while still protecting their credentials.
