Is the statement true or false? PII contains demographic information and personal information that may be able to identify a consumer, while PHI is specifically Individually Identifiable Health Information (IIHI).

The statement is true. Personally Identifiable Information (PII) encompasses a broad range of demographic and personal details that can identify a specific individual, such as names, addresses, social security numbers, and other identifying characteristics. On the other hand, Protected Health Information (PHI) pertains specifically to individually identifiable health information, which includes data regarding an individual's medical history, conditions, treatment, and payment for health care services. The distinction between PII and PHI is important in understanding privacy regulations and the ways various types of data are protected under laws such as HIPAA.