Rising Healthcare Privacy and Compliance Priorities Drive Wide-Scale Customer Adoption and Repeated Triple-Digit Revenue Growth.
“With increased clinical and business automation within the care delivery organization (CDO), along with increased constituent access to protected healthcare information (PHI), CDOs must take steps now to detect and prevent unauthorized access, identity and medical identity theft. Application audit log monitoring, reporting and alerting is a practical and non-invasive approach to compliance,” said Barry Runyon, Research Vice President Healthcare Providers, Gartner, Inc..
FairWarning® customer adoption highlights from 2008 include:
- FairWarning® solutions now protect patient privacy in 90 hospitals and over 600 clinics. The company’s production customers range in size from 1,000 employees to over 50,000 employees
- Thirty-eight percent of FairWarning®’s customers are ranked in 100 Most Wired, Verispan 100 or U.S. News Top 20 U.S. Hospitals
- Malcolm Baldrige award winning health systems have now adopted FairWarning® privacy breach detection solutions
- Health systems under U.S. Federal OIG HIPAA audits have adopted FairWarning® privacy auditing solutions
- FairWarning® now has out-of-the-box auditing support for sixty (60) healthcare applications and is adding support for an additional fifteen (15) in Q1 2009
- The company now has major production customer deployments across all regions of the United States, auditing healthcare applications from: Allscripts, Cerner, Eclipsys, Epic, GE, McKesson, MEDITECH, Misys, Siemens
FairWarning®’s “OIG HIPAA Audits – Lessons Learned” webinar held on December 3rd, 2008 was attended live by 200 healthcare organizations and has been downloaded over 4,000 times – http://www.fairwarningaudit.com/subpages/SDH-PwC-Webinar.asp
- The company’s November 5th, 2008 webinar on California SB 541 and AB 211 held in conjunction with MemorialCare® was attended live by 150 healthcare organizations and has been downloaded over 1,500 times –http://www.fairwarningaudit.com/subpages/MemorialWebinar-Webinar.asp
As a result of customer adoption and satisfaction, FairWarning® experienced on-going financial growth in 2008:
- 184% revenue growth year over year from 2007
- 754% growth for the time period 2006 through 2008
- FairWarning® accrued more revenue in Q4 2008 than all of 2007
- Profitable in 2008
Legal risks from patient privacy incidents, rapidly increasing healthcare regulatory oversight both domestically and abroad, and FairWarning®’s rapid-to-deploy, best-of-class solution are all key factors driving customer adoption. Recent increased healthcare regulatory oversights include: U.S. FTC Red Flag Rules, California AB 211 & SB 541, U.K. Caldicott Guardian Rules, Canadian Healthcare Province legislation as well as the first unannounced U.S. HIPAA audits.
About FairWarning, Inc.
FairWarning® is the world’s leading supplier of cross-platform healthcare privacy auditing solutions for Electronic Health Records. FairWarning® proactively protects healthcare organizations from emerging legal and privacy threats which include medical identity theft, identity theft, and other forms of healthcare information crimes. FairWarning is the industry’s leading best practice solution for automating privacy auditing. The company is located in St. Petersburg, FL, to learn more, visit www.FairWarningAudit.com or call U.S. 727.576.6700.