Final answer:
HIPAA deals with more than just privacy and security concerns; it also includes provisions for health insurance portability, fraud prevention, and administrative simplification. The statement is false.
Step-by-step explanation:
The statement that HIPAA focuses on protecting privacy and security concerns only is False. While HIPAA primarily deals with the protection of patient information and establishes standards for maintaining the confidentiality of health records, it also addresses other important concerns such as the portability of health insurance and the use of electronic records in healthcare. The Health Insurance Portability and Accountability Act sets the groundwork for ensuring both the privacy of patients' personal health information and the security of that information as it is handled by various entities like insurance companies and healthcare providers. However, it does not exclusively deal with these issues, as it also has provisions impacting health insurance coverage, fraud, and administrative simplification. Policies developed in light of HIPAA must carefully balance treatment costs, patient quality of life, risks to individual privacy, and the ethical considerations involved when the rights to know about potential health threats conflict with privacy rights.