Net income is what remains after subtracting all the costs (namely, business, depreciation, interest, and taxes) from a companyâs revenues. It is sometimes called the bottom line.
The Health Insurance Portability and Accountability Act (HIPAA) is a law that was passed in 1996, designed primarily to modernize the flow of health information. At the time, most medical records were in paper form, but it was becoming clear that health data would become digital in the future.
HIPAA was expanded by the Health Information Technology for Economic and Clinical Health Act in 2009. HIPAA and HITECH establish a set of federal standards intended to protect the security and privacy of PHI. These provisions are included in what are known as the Administrative Simplification rules. HIPAA and HITECH impose requirements related to the use and disclosure of PHI, appropriate safeguards to protect PHI, individual rights, and administrative responsibilities.