Wearable Health Solutions Inc. (OTC:WHSI) Engages Mazars In The Effort To Obtain HITRUST Certification
Wearable Health Solutions Inc. (OTC PINK:WHSI) has partnered with Mazars to achieve HITRUST CSF certification for its medical alarm products. This certification ensures compliance with HIPAA and other regulations, enhancing the company's market credibility. The HITRUST CSF is a widely recognized security framework in the U.S. healthcare sector. The company's product offerings, including the 4G iHelp MAX, are marketed globally, targeting the elderly and disabled. The collaboration with Mazars underscores WHSI's commitment to regulatory compliance and increased trust among healthcare partners.
- Partnership with Mazars to pursue HITRUST CSF certification enhances compliance credentials.
- HITRUST certification may improve trust and credibility with healthcare payors and clients.
- Global distribution network broadens market reach, with sales in multiple continents.
- HITRUST certification process requires substantial time and resources.
- Dependency on external compliance frameworks could pose operational risks.
Mazars Is A Leading International Audit, Tax And Advisory Firm; The HITRUST CSF® Is A System That Helps Organizations Comply With HIPAA And Other Regulations
HITRUST CSF® Is The Most Widely Used Security Framework In The U.S. Healthcare Industry Today.
KING OF PRUSSIA, PA / ACCESSWIRE / November 15, 2021 / Wearable Health Solutions Inc. (OTC PINK:WHSI), is a manufacturer of proprietary personals medical alarms that possess a multitude of functionalities (e.g. home security devices for Seniors, emergency response systems for employees that work alone). WHSI markets its products to and through its global distribution network of independent dealers. These dealers sell direct to consumers with clients such as hospitals, home healthcare providers, and home security markets. Today, WHSI announced it has contracted with Mazars, a top global compliance expert, to help them perform efforts to obtain HITRUST certification in its products and systems.
The HITRUST organization, in partner with other technology and information security leaders, created and maintains the Common Security Framework (CSF). HITRUST is not a new set of standards. The HITRUST CSF® is a system that helps organizations comply with HIPAA and other regulations such as PCI, NIST, and ICO through a detailed, yet flexible and efficient approach for regulatory and compliance management. The most widely used security framework in the U.S. healthcare industry today, the HITRUST CSF is continually updated and improved.
The Health Insurance Portability and Accountability Act (HIPAA) is United States legislative act that was signed into law in August 1996. In 2013, HIPAA was expanded with the HIPAA Omnibus Rule to implement additional guidelines in accordance with the guidelines set forth in the HITECH Act. HIPAA outlines requirements for healthcare organizations and their business associates related to ensuring the security of sensitive patient data.
The HITRUST CSF maps the CSF controls to specific HIPAA standards and specifications. Many specifications are mapped to multiple CSF controls. Each CSF control has multiple levels with varying requirements, so that organizations can implement the most relevant requirements for each control based on systems, organizational considerations, and regulatory risk factors.
HITRUST builds on HIPAA. It takes HIPAA, a non-standardized and non-prescriptive compliance framework, and creates a standardized compliance framework, assessment, and certification process for the healthcare industry.
Having been through both HIPAA audits and a Certified CSF Assessment, it is safe to say that HITRUST CSF Certification is a much more rigorous process, with a higher burden of proof put on the organization trying to achieve certification, than a HIPAA audit.
Achieving HITRUST CSF Certification requires significantly more time, effort, and resources than a HIPAA audit. Being HITRUST CSF Certified should be seen as a more significant badge for security and compliance than completing a HIPAA audit.
Wearable Health Solutions Inc. is a personal monitoring technology developer focused on mobile alert and tracking devices for emergency medical and occupational safety markets worldwide. WHSI generates revenues from the sale of its medical alarm devices and recurring service fees based on monitoring subscription plans. In addition to the U.S. and Canada, which contribute a vast majority of the Company's business volume, WHSI has also sold its solutions across several continents, including in countries such as New Zealand, UK, Brazil, Caribbean, and the People's Republic of China.
Peter Pizzino, the President of Wearable Health Solutions Inc. said: "It's not possible for healthcare organizations to become HIPAA-certified, as there is no official certification process or accreditation. An external audit is the best way to ensure HIPAA compliance. When partnering with third-party organizations, covered entities have business associates sign a Business Associate Agreement that's essentially a promise that they've implemented the right security controls to protect sensitive data. As a certifiable framework with controls mapped to every HIPAA standard and specification, HITRUST CSF certification provides a more reliable and consistent way for covered entities to ensure that their business associates are, in fact, compliant. Several major healthcare payors already require their business associates to comply with the HITRUST CSF. Certification adds a dose of confidence and a layer of trust."
About Mazars:
Mazars is an international audit, tax and advisory firm committed to helping our clients confidently build and grow their businesses. We have come a long way since Robert Mazars set up his accountancy firm in Rouen, France in 1945. From these modest beginnings, Mazars has grown into an international group comprising over 42,000 professionals across more than 90 countries and territories, including 16,000 professionals through the Mazars North America Alliance and 42,000+ professionals worldwide
For more information go to https://www.mazars.com
About Wearable Health Solutions:
The Company manufacturers medical alarm devices that are used to summon help in the event of an emergency for users. The product is designed and marketed primarily to the elderly, physically disabled and individuals living alone.
We provide Mobile Health IOT (mHealth) and personal emergency response system products which services to dealers and distributors globally. As a leader in the rapidly growing medical alarm device and eHealth sector, we provide innovative wearable healthcare products, tracking services, and turn-key solutions that enable our users to be proactive with their health, as well as safe and protected at all times. Our products and services are always state-of-the-art and cost effective. Through our culture, our drive, and the expertise of each individual employee, we are uniquely positioned to build shareholder value by setting the highest standards in service, reliability, and safety in our rapidly growing industry.
Our Flagship product 4G iHelp MAX is a personal emergency alarm that is used to summon help in the event of an emergency at home. Currently approximately 60 % of all medical alarms sold in the USA are first generation technologies that require the user to speak and listen through a central base station unit. Medipendant® however offers a speaker in the pendant enabling the user to simply speak and listen directly through the pendant in the event of an emergency. This device is a cellular medical alert system, blue tooth and WI-FI enabled, that operates on a 4G network. Operating capabilities commence on AT&T network (GSM-Global) with further capability with others as well.
The 4G iHelp MAX device showcases new features, functionalities, fall detection, medication reminders, voice controls, and geo-fencing referencing the ability to pre-set an area and alert loved ones if the device user enters or leaves a pre-determined area.
Forward-Looking Statements
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Wearable Health Solutions and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to (i) Wearable Health Solutions ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Wearable Health Solutions ability to maintain existing, and secure additional, contracts with users of its solutions; (iii) Wearable Health Solutions ability to successfully expand in existing markets and enter new markets; (iv) Wearable Health Solutions ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Wearable Health Solutions business; (viii) changes in government licensing and regulation that may adversely affect Wearable Health Solutions business; (ix) the risk that changes in consumer behavior could adversely affect Wearable Health Solutions business; (x) Wearable Health Solutions ability to protect its intellectual property; (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent quarterly report on filed by Wearable Health Solutions with the Securities and Exchange Commission. Wearable Health Solutions anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Wearable Health Solutions assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
Wearable Health Solutions Inc.
2300 Yonge St. Suite 1600
Toronto, ONT M4P1E4
Canada
www.WearableHealthSolutions.com
855-226-4827
info@wearablehealthsolutions.com
Go to: www.WearableHealthSolutions.com
SOURCE: Wearable Health Solutions Inc.
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