You’re Selling More Than Printers – You’re Selling Insurance from Noncompliance

Your clients want quality printing. They also want to control their printing devices through a tablet-like interface with plenty of apps, and they want full network connectivity and integration with cloud services. But just as important, they want to avoid paying fines for noncompliance of federal regulations. Whatever features they deem necessary for their MFP, some of the most important features are the right solutions embedded in that device that safeguard against putting them in danger of breaking the law and incurring hefty penalties.

Why is this so important?

Xerox Healthcare MFP
The Xerox® Healthcare Multifunction Printer Solution, connected by Kno2™, helps meet each of these challenges by solving the problem of secure sharing of patient information from one provider to another across the healthcare continuum.

At a time when hardly a day goes by without news of a security breach, fees for violating government security regulations, particularly in healthcare, finance and education, can be damaging. For example, the U.S. healthcare system is subject to numerous regulations regarding everything from privacy to security to patient access, marked by the Health Insurance Portability and Accountability Act.  Yet the push is toward increased productivity in the form of electronic health records (EHR).

An example of meeting both goals is Xerox’s Healthcare Multifunction Printer Solution, designed to allow healthcare providers to electronically share patient information with the push of a (secure) button.  This “share patient information” button allows practitioners to transmit data.

This solution allows smaller providers to replace faxing as their primary method of transmitting information, and to stay current with EHR regulations. However, any violation of HIPPA regulations can result in fines ranging from $1,000 to upwards of $100,000.  Failure to comply, even unknowingly, can also result in civil and criminal charges. These criminal penalties for HIPAA violations are directly applicable to health plan administrators, healthcare clearinghouses, those healthcare providers who transmit claims in electronic form, and Medicare prescription drug card sponsors. Because of this high cost, it is particularly important that you help your clients manage their environments.

Another layer of security is provided by Xerox’s partnership with McAfee and Cisco, delivering multilayered protection that integrates with existing infrastructure.  All personal health information is protected by the Advanced Encryption Standard, the highest level of security available.

A whole different set of regulations govern the financial world, but the penalties for not safeguarding financial information are no less damaging. The Gramm-Leach-Bliley Act, or Financial Services Modernization Act, requires institutions that offer consumers financial products or services to explain their information-sharing practices to their customers and to safeguard sensitive data. The Safeguards Rule mandates that financial institutions under the FTC’s jurisdiction secure customer information. This act applies to all information, whether in paper or electronic form. Appropriate safeguards include firewalls and encryption software, as well as secure disposal of electronic data.

Those who fall under this act most notably include banks, credit unions, insurance companies and security firms. Debt collectors, real estate appraisers, check cashing businesses and mortgage brokers, as well as retailers and auto dealers who offer or arrange store credit, are also protected. Penalties for noncompliance are imprisonment up to five years, heavy fines, or both. A financial institution can be fined up to $100,000 for each violation.

Partners with accounting, finance and banking customers should also be familiar with the Sarbanes-Oxley Act, which was enacted in 2002 to prevent fraud and protect investors. SOX requires accountants to keep track of and retain a trail for everything they do in a transparent fashion, while also assessing the quality of their own compliance policies. An electronic content management solution should manage both structured and unstructured content through a full lifecycle, from creation through archiving. The failure to comply is significant — penalties can be upwards of $5 million and 20 years in prison.

Educational institutions are not exempt from federal regulations. The Family Educational Rights and Privacy Act, or FERPA, lays out rules to protect the privacy of a student’s education records. This law applies to any school that receives funds from the U.S. Department of Education. Educational institutions want to be able to search and retrieve records that can be printed on the spot, with all systems linked into one platform for easy access to all regulated information. And they need to do it securely, since organizations found to be in violation of this act may lose federal funding.

Widely recognized for protecting the integrity and security of its clients’ data and committed to providing the highest levels of security, Xerox  earned an Authority To Operate (P-ATO) from the U.S. government’s FedRAMP Joint Authorization Board, which gives IT decision-makers at federal agencies the confidence that managed print services from Xerox can improve the security of their information. Xerox is the only document technology company to earn this important designation.

While considering your clients’ needs for security, do not forget their need for mobility as well. Printing on the move should be as easy and straightforward as printing in the office. Mobile printing solutions like those from Xerox allow employees to stay productive, no matter where they are working, and documents stay secure. Xerox Managed Print Services is exceptionally positioned to help federal agencies unlock hidden costs, improve workflows and perhaps most importantly, free themselves from security risksThat’s just as important as any other MFP feature you can offer your clients.

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