Medical Identity Theft is rapidly growing threat, with the number of victims going up over 20% every year. Over 2.3 million Americans have been personally affected by Medical ID Theft.
Unlike several other forms of Identity Theft involving financial fraud, Medical Identity Theft victims are rarely informed by a healthcare entity about suspicious activity. And in many ways, it’s even scarier than other forms of Identity Theft because the consequences could prevent you from getting the healthcare you need when you need it most.
Why is your medical identity so valuable?
According to the World Privacy Forum, your medical identity—which includes your name, address, Social Security and health ID numbers—goes for $50 on the online black market. A Social Security number alone currently sells for $1 and an active credit card can sell for $3. Medical ID Theft presents a lucrative source of income for fraudsters.
Your medical identity can be used to get prescription drugs or healthcare. An identity thief can rack up tens of thousands of dollars of insurance claims or medical debt in your name. It can even be used to fraudulently acquire government benefits such as Medicare or Medicaid.
Why is it easier for thieves to steal your medical identinty?
The American Recovery and Reinvestment Act (ARRA) called for the “meaningful use” of electronic health records (EHRs) for all patients in 2014. So starting in 2015, healthcare facilities not showing meaningful use could be penalized. This deadline caused many facilities to scramble to get paper systems online, often times before putting policies and security measures in place. As a result, medical breaches have accounted for nearly half of all data breaches in recent years.
A study conducted by CSID found:
- 41% of healthcare organizations spend 10% or less of their IT budget on protecting patient data
- 50% of healthcare employees who have access to electronic health records also have access to their personal email at work
- 48% of healthcare organizations don’t password-protect, encrypt and track mobile devices that host patient data
- Only 17% of healthcare organizations are “worried” about losing patient data in a breach or hack
But perhaps the most alarming discovery was that 73% do not have a response plan in place in the event that patient information is lost! That makes it vitally important for you to have Identity Theft protection you can trust.
At ReliaShield, the statistic we guarantee is 100% recovery success.
We’ll handle all the work to restore your identity. You’ll be assigned a personal advocate who will handle all disputes and file paperwork on your behalf. We’ll even help you minimize your risk of theft on the front end with exclusive tools and scam alerts.
Medical ID Theft is a very real threat in today’s world. Let ReliaShield give you the coverage you need today!
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