TokenEx: Advancing Tokenization for Healthcare by Eliminating Data Theft Risk and Reducing Compliance Costs
While tokenization is widely used in the payment security arena, it is also very applicable to the healthcare arena.
Healthcare organizations’ IT systems have been receiving and storing terabytes of sensitive data for decades. More recent initiatives focused on HIPPA compliance have helped IT departments to upgrade and put into place security policies and procedures to safeguard personal healthcare information (PHI).
However, healthcare organizations also receive and store enormous amounts of personally identifiable information (PII) as well as payment card information (PCI) for every patient for billing purposes. Much of the PII and PCI data remains unprotected, sometimes not even encrypted in the databases of ERP systems while being transmitted among hospitals, clinics, labs, and private practices.
According to the FBI, criminals are targeting the information-rich healthcare sector because individuals’ personal information, credit information, and protected health information (PHI) are accessible in one place, which translates into a high return when monetized and sold. As such, the healthcare C-suite should be maintaining the security and privacy of their patients’ personally identifiable information and payment data.
TokenEx helps to mitigate these risks with it Cloud Security Platform, which replaces sensitive payment and personal data with mathematically-unrelated tokens, and stores the original data in 100 percent PCI-compliant secure data vaults, running in fully-redundant cloud data centers.
The bottom-line is that this solution is vital to eliminating data theft risks, reducing compliance costs, and safely store heterogeneous data types, while also integrating with any service provider.
To learn more about TokenEx’s healthcare solutions, please click here.