Carbonite Gains from HIPAA Regulations - Analyst Blog

Carbonite, Inc. CARB, a dominant provider of online backup and recovery solutions, was selected by Rose City Urgent Care and Family Practice in Portland, OR, to facilitate security and confidentiality of its stored data as mandated under the Health Insurance Portability and Accountability Act (HIPAA).

Rose City permits practitioners to use their own methodology for treating patients; hence provider-specific forms, charts and documents clutter on practitioners' computers. Carbonite was selected to provide back-up facility for all mission-critical server information and individual data at an affordable rate without compromising on data security.

The HIPAA Regime    

Intending to guard valuable patient information, HIPAA has imposed a multitude of privacy and security implementation safeguards. HIPAA lays the groundwork for fundamental data protection and is critical for businesses which are dedicated to the healthcare industry.

Compliance with HIPAA's administrative, physical and technical safeguards is crucial for ongoing business operations of healthcare organizations and other associated institutions that store personal health information. In case the privacy and security of the patient information is compromised, the associated healthcare organizations face harsh penalties. This safeguards the risk of data theft.

Moving Ahead

Carbonite remains at the forefront of compliance with regulations, as it continues to promote a seamless transition of healthcare companies to ensure HIPAA compliance by preserving the confidentiality, integrity and security of their data.

Carbonite's Pro and Server solutions are formulated to meet the data privacy and security requirements of HIPAA by providing continuous and automatic online backup and recovery of vital patient data. Its backup system automatically and continuously uploads encrypted copies of customer's files to servers known as Carbonite Personal Cloud. While affordable and easy to implement, Carbonite's solutions provide adequate security measures to safeguard against unauthorized access.

Carbonite currently holds a Zacks Rank #1 (Strong Buy). Other notable stocks in the industry include Ciber, Inc. CBR, LogMeIn, Inc. LOGM and Syntel, Inc. SYNT, each holding a Zacks Rank #2 (Buy).