As health tech companies solidify their budgets and agendas amidst the continued pandemic, they should consider these prominent health regulatory changes expected in 2021:
- HIPAA is getting a major update. The federal government released a HIPAA proposed rule allowing individuals to obtain their records from electronic health systems for free and electronically share their data across their providers. This is good news for ensuring more coordinated care. However, for providers and companies supporting providers, this will likely require major revisions of current HIPAA policy statements and partnership contracts.
- Health data will need to be shared in an interoperable way. Enforcement date for the federal government 2020 twin regulations around data interoperability and information blocking will begin early in 2021. This means that if you are a provider, an entity supporting providers, or a company collecting and sharing health data, you will need to make sure your data platform design and business practices adhere to data, privacy, and sharing requirements.
- Telehealth and remote patient monitoring is here to stay…but say goodbye to certain provisions. During this global pandemic, the government, as our nation’s biggest insurer, agreed to pay for many health services to be provided remotely for the first time. This new remote-type care has been hailed a success from all involved – individuals, providers, and payers. However, as people get vaccinated and begin venturing out again, support of certain services that have better efficacy in-person will no longer be covered remotely.
- Value-based care payments may leap forward. The newly minted Democratic Congress and Biden in the White House may mean a push toward enhancing Biden’s agenda to expand insurance access for individuals. Cost and transparency will be front and center. Health tech companies providing insight in improving care while decreasing health care spending will be key players.
In the coming weeks, we’ll be providing deeper insights on these topics to help health tech companies navigate 2021.