Phil Castle, The Business Times
Scott Fasken believes there’s more to the document security business he oversees than turning large pieces of paper into small pieces of paper.
The core service of the business, Fasken said, is helping customers protect confidential information and comply with federal and state laws that require them to do so. “Shredding is our methodology,” he said.
That approach has worked well as Colorado Document Security has grown over the past 12 years in both the scope of its operation and geographic area the Palisade-based business serves. The company recently purchased its fifth shredding truck to serve a region that includes not only Western Colorado, but also Northern New Mexico, Eastern Utah and Southwest Wyoming.
On-site shredding and personalized customer service have helped in building business, said Fasken, who works as vice president of operations of Colorado Document Security. His wife, Jill, is president.
More so, though, it’s been the role of the company in helping customers meet legal requirements to safeguard private medical and consumer records, including their proper disposal, Scott Fasken said. “It’s compliance. People are looking for a higher level of security.”
Provisions of the Health Insurance Portability and Accountability Act (HIPPA) require that hospitals, medical practices and other health care providers protect records and follow procedures for their proper disposal, Fasken said. Practitioners are required to alert authorities and patients when information is put at risk. Fines for certain violations, including improper disposal, have increased from $25,000 to $1.5 million.
Meanwhile, the Fair and Accurate Credit Transaction Act (FACTA) similarly requires businesses to protect consumer information, including its proper disposal, he said. Federal and state penalties may be imposed for violations, and information breaches also could result in class-action lawsuits.
Colorado Document Security helps customers comply with HIPPA and FACTA, Fasken said, by offering the services of a certified document destruction vendor that meets the due diligence provisions of those laws.
Colorado Document Security was the first firm in Western Colorado to earn AAA certification from the National Association of Information Destruction (NAID), a trade group for companies providing information destruction services. The firm undergoes an annual audit to assure it complies with policies and procedures for secure information destruction, Fasken said.
In addition, Colorado Document Security was the first firm in the country to purchase professional liability insurance that extends coverage for data breaches to its clients, Fasken said. Downstream data coverage assures what potentially could be the costly expenses associated with a data breach — including notification and credit monitoring — are covered.
Fasken remains involved in NAID. He served for a year as president of the organization and now serves as a mentor in helping new members address problems and improve customer service.
Meanwhile, he expects his own business to keep growing as the operation helps customers with court-defensible risk management and regulatory compliance.
For more information about Colorado Document Security, call 464-4859 or log on to the Web site at www.coloradodocumentsecurity.org.