What aspect of healthcare does HIPAA aim to combat?

The correct answer highlights that HIPAA, the Health Insurance Portability and Accountability Act, was designed to address issues related specifically to fraud, waste, and abuse in health insurance. This legislation seeks to improve the efficiency and effectiveness of the healthcare system by ensuring that health data is protected while also establishing safeguards against fraudulent activities and the misappropriation of healthcare resources.

By promoting better data management practices and safeguarding sensitive patient information, HIPAA helps to reduce cases of fraud and abuse that can lead to inflated costs and reduced quality of care. This focus on maintaining the integrity of health insurance systems is central to HIPAA's purpose.

Other aspects mentioned, such as over-regulation of the healthcare industry, competition among healthcare providers, and increased patient wait times, are not direct objectives of HIPAA. While these factors may impact the healthcare landscape, the primary aim of HIPAA revolves around enhancing trust in the healthcare system through the protection of patient information and the combatting of fraudulent practices.