The Power of Digital Security Systems to Safeguard Hospital Funds

The Power of Digital Security Systems to Safeguard Hospital Funds

Donor funds to help in handling various diseases are expected contributions in most hospitals. Medical students/researchers use the hospital environment to complete their studies. Most of them are funded; the finances are pulled together for easy management and accountability. You can do your best to ensure they are in safe hands, but someone somewhere spends sleepless nights to ensure they sweep the bank account within minutes. That’s one challenge that comes with digital technology. Everything is done from the comfort of your home.

On the flip side, the same technology works to our advantage. The hospital management can’t sit and wait for online fraud stars to do their dirty business on their accounts. It’s all a rush against time. The message here is, who is smarter than the other. Definitely with the correct online security technologies like LifeLock; you are cash safe and sound.

The digital market has a lot of such technologies; hospitals should look at the following factors to make the right choice of an online digital security platform

  • Encryption integration to support the end to end security measures
  • The firm controls when it comes to access to confidential information
  • Digital restrictions options based on the level of management
  • Look at authentication choices to prevent unauthorized access
  • Must have a data prevention policy
  • Value-added security measures within the protocols

With these considerations, the hospital can narrow down to LifeLock, Experian and IdentityForce for these reasons.

  • Insurance covers of up to $ 1 million
  • Social media monitoring
  • Debit card and credit card alert system
  • Annual credit score
  • Identity protection
  • Trail period with a money-back guarantee
  • Comprehensive screening of personal details like drivers licence number, social security number among other information

The above reasons are found in all of the four online security platforms. It’s your duty you go to the details and make a comparison, especially between LifeLock vs Experian and Identityforce vs LifeLock; and choose what works for your hospital.

What is the role of a digital security system in managing hospital funds?

Hospitals control millions of cash, depending on the kind of services they offer. The insurance companies pay the millions; donors also channel their money to the medical facilities if they have to help in research or management of a specific illness.

The million-dollar question is, how safe is the cash in the hospital accounts? You can’t say that it’s safe when as a hospital financial officer, you have done little to safeguards it.

The first step towards achieving this is to enrol in a reliable and efficient online security system which will be responsible for the overall running and ensuring what is in the accounts doesn’t find its way in the wrong hands.

1. Scans malware for any mischievous apps

With malware, fraudsters collect your personal information and log in to the hospital accounts and transfer cash.

Ensure your computers and networks have malware scanners installed to detect, block and delete the suspicious applications which may cause harm to your financial accounts.

2. Use strong authentication options

Authentication is a security feature that supports all manner of data and money protection. If you choose to have a password, go an extra mile and install a password manager to encrypt in your browser for easy running of the accounts.

Take note, change the passwords regularly and avoid reusing the old ones. Apart from that, have a two-step- if not three-step verification.

In case a hacker manages to get your password, the other verification procedure may challenge him to complete the dirty business.

3. Secure internet connectivity networks

The WI-FI networks are weak points, yet you can’t avoid using the internet for online services.

The only option is to secure the network with a robust monitoring system to check for any unwanted access to the network.

It saves not only the hospital but also employees and patients who may use the network for financial transactions.

4. Digitalize the payment services

Since you have decided to go online, also digitalize your payment system with strong security options in mind.

With online payments, you are sure you can monitor, get alerts for quick action in case someone wants to gain entry.

Where possible, use facial recognition if not biometric authentication. All these measures come in handy to keep fraudsters at bay.

5. Comprehensive alert service

Depending on the level of management; get to know all the happenings at the accounts at the tip of your hands.

In case of a withdrawal, have the means to give authority. Have you seen the way banks operate, there is no way one person can complete a transaction; it’s a collective responsibility of even five departments.

That is the move hospitals should use such that, in case there is a gap in one management level, the next one can quickly sort it before the digital thieves take full control of the hospital accounts.

6. Fraud prevention applications

The best way to catch an online thief is to identify the places they hang, the tricks they use and the applications they use to support their dirty deals.

Hospital management must empower their staff on this such that they can make a timely decision before the situation goes out of hand.

The prevention strategies include

  • Antiphishing apps 
  • Secure browsing solutions
  • Use of private data monitoring systems
  • Timely reports on suspicious activities
  • 24/7 monitoring service

As you leave the security companies to do what they know best, at the hospital level, also use technology within your means to protect the cash from online thugs. Security starts with you.