Helping You Cost Effectively Identify, Prioritize, and Reduce Risk Associated with Vendors

Healthcare providers are at increasing risk of intentional and unintentional cybersecurity compromises by vendors that access, transmit, store, or maintain their critical data. The latest Ponemon Institute study indicates that 56% of providers have had one more vendor-related data breach over the last two years.

Recognized as the top Compliance and Risk Management solution provider in Black Book Market Research’s healthcare industry survey the past four years in a row, Clearwater offers three vendor risk management services, depending on the customer’s needs and objectives:

Assess, Design & Build: Clearwater assesses the current vendor risk management (VRM) process, makes recommendations, and helps the customer implement a more effective and efficient program.

On-Going VRM Support: In addition to the above, Clearwater provides on-going advisory services and supplementary support as needed.

Vendor Risk Management as a Service: Rather than building and executing the vendor risk management program internally, the customer outsources the process to Clearwater. Clearwater conducts vendor risk assessments and reports on vendor risk from both individual vendor and portfolio perspectives under an outsourced, managed services model.

Whether Clearwater manages and executes the vendor risk management program, or the customer does so on its own, the vision is the same: Create a scalable, reasonable and appropriate vendor risk management program that enables the organization to more cost effectively identify, prioritize and ultimately reduce risk associated with vendors.

The objectives of any vendor risk management program include:

Identify and tier the most important vendors based on impact to the customer’s organization

Assess risk based on the organization’s specific interaction or relationship with the vendor

Be able to communicate risk to stakeholders in business terms

Gain more meaningful insights as to where the largest risks exist

Monitor vendor risk on an on-going basis

Convert time spent on administrative tasks into analyzing and responding to risks

Reduce the average time and cost to assess vendors, while gaining more actionable information

Vendor Risk Managment Educational Resources & Insights

Find our Blogs, White Papers and On-Demand webinars relating to Vendor Risk Management all in one place.

Interested in how we can help your organization with vendor risk management?