Can you trust your vendors to safeguard your patients’ private information the same way you do?
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.
Risk is compounded by the increasing amounts of outsourced data, expanding use of the cloud, the growing number of service providers, the escalating threat landscape, and rising severity of regulatory fines at the state and federal level.
Partner with the Industry’s Leading Provider of Risk and Compliance Solutions
Our Vendor Risk Management solutions are designed to be scalable based on the size and complexity of the organization, as well as the organization’s capabilities and resources to assess, improve, and carry out its vendor risk management functions.
Step 1: Assess
Clearwater’s team of experts can help you conduct a methodical assessment of your vendors and subcontractors that have access to protected data, classifying the risk associated with each of them based on a range of factors.
Step 2: Improve
Clearwater’s experts can also help you improve your vendor risk management program through the implementation of governance, process, and technology changes. Our work focuses on three areas that are vital to build an effective vendor risk management program:
- Defining policies and procedures for monitoring vendors
- Consolidating existing internal vendor profile data and contracts into a single data repository
- Closing critical vendor data gaps
Step 3: Ongoing Program Execution
Recognizing that many healthcare providers have limited resources to put toward this effort, Clearwater partners with many organizations to provide end-to-end Vendor Risk Management as a Service. Our team will provide oversight of your program and deliver alerts on any issues that emerge as well as analytics and reporting on how vendor risk profiles are changing over time.
Clearwater has the expertise and tools to help you turn a major source of risk into a strategic advantage, enabling your organization to collaborate confidently with vendors that are essential to the delivery and management of care.
Interested in how we can help your organization with third-party risk management?
- Encompass Health Automates Its HIPAA Compliant Risk Assessment & Strengthens Security Risk Management - January 21, 2019
- Test 1.2.3. - January 15, 2019
- Choosing an Information Risk Management Framework: The Case for the NIST Cybersecurity Framework (CSF) in Healthcare Organizations - January 9, 2019