How does complying with HIPAA/HITECH regulations benefit my practice?

Complying with HIPAA/HITECH regulations is a federal mandate. Besides, ensuring privacy and security of electronic health information is a key component to build  trust with  patients, other providers and other business partners. If individuals and other participants in a network lack trust in electronic exchange of information, due to perceived or actual risks of such information, it may affect their willingness to disclose necessary health information and could affect business growth.