Medication Identifier- An Ultimate Solution To Combat Medical Frauds

A popular medical drama television series touched on the issue of cyberterror in an episode that showed hackers demanding millions just to lower the heating system of the hospital. Nowadays, the healthcare industry has web-enabled heart monitors, blood pressure monitors, etc. to enhance technological advancements which makes them more vulnerable to data breaches and identity thefts. Another reason healthcare sectors encounter medical identity theft is the access of fraudsters to legal pain-relieving drugs and using them illegally.

Medication identifier is the solution to reduce these threats that have affected millions of users worldwide.

What is Know Your Patient (KYP)?

KYP is the verification of a patient’s identity according to universal laws and regulations. Patients are verified through their government-issued ID documents such as passports, ID cards, and more. In order words, it is similar to KYC but when directing it to the healthcare sector it is KYP or medication identifier.

The Process Of Online Medication Identifier

The process of medication identifier or know your patient is:

1. 1. The patient uploads their documents into the verification software
2. 2. Documents are then verified through various authenticity checks to identify if the documents are photoshopped edited, or tampered
3. 3. A live picture of the patient is acquired and biometric verification checks are performed
4. 4. Age verification checks are run to verify the proper age of the individual
5. 5. Users are also screened for AML compliance to check if they are on sanction lists or hold any criminal records prior to screening

All these processes of medication identifier checks are robust, error-free, and performed instantaneously

Why does the healthcare sector need medication identification?

Know your patient identification is similar to the concept of know your Business which is performed in financial institutions and banks. These verifications not only comply with regulations and norms but also provide an effective fight against money laundering and terrorist financing. Additionally, it provides digital ID verification for pharmaceuticals in the United Kingdom and advanced data security in the healthcare sector.

Additionally, the process of medication identifier ensures minimal data breaches and counters any attempts of prescription fraud. It also ensures the identity of the customer is who they claim to be so that test results, reports, and documents do not go into the hands of fraudsters and scammers.

Use Cases Of Know Your Patient In Healthcare Industry

Technological advancements demand innovations in the medication identifier process. These solutions are not only limited to fingerprint verification but also to facial recognition in order to provide a better and robust customer experience.

Healthcare privacy and security

The HIPPA act has been established to tackle patients’ data through a set of guidelines and rules. In order to secure sensitive information of the patient, healthcare sectors need to follow these instructions carefully and diligently through medication identifier technologies. The passing of data should be closely monitored and regularly assessed for any breach in maintaining the integrity of medical records. Any exposure of the data in the hands of a fraudster can lead to hefty fines and reputational losses.

On the other hand, PHI (Protected Health Information) must take precautionary measures to protect the personal and sensitive data of patients, or else they might also face harsh regulatory fines.

Online prescriptions

Online pharmacies must verify the identities of their patients, especially in the developed countries. Age verifications must also be performed by pharmacies in every country and city, for example, digital ID verification for pharmaceuticals in the United Kingdom.

Nevertheless, online drug stores are full of age-restricted medications that should not be handed over to underage children at any cost without adult supervision. Keeping all aspects in mind should be the utmost priority for the process medication identifier.

Insurance scams

When a patient’s identity documents and data are compromised they not only affect the patient financially but can also be used for insurance claims. A scammer uses the illegally obtained information and manipulates insurance companies into providing them insurance benefits. These lead to many more frauds such as fake prescriptions, identity thefts and also deter the medical history of the individual. Medication identifiers can help in preventing these heinous scams.

To conclude

A patient’s information is to be held dear to the heart of the hospital for example in the back office with full protection. The protection is necessary mainly because the healthcare sector is the most sensitive industry of all time. Not being able to comply with regulations and protecting user information can lead to great reputational and financial damages. This is why all sectors should adopt medication identifier technologies that are cost-effective and robust.