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Healthcare Third-Party Vendor Risk Management in the 21st Century

Healthcare Third-Party Vendor Risk Management in the 21st Century

Censinet
Published by: Research Desk Released: May 21, 2019

A medical device manufacturer exposes the personal and medical records of 277,000 patients contained in emails archived by a third-party vendor during a routine server migration. The personal information of 45,000 patients at a healthcare provider are exposed through an improper disclosure of a file by a third-party vendor. The medical records of potentially millions of patients are exposed due to an unsecured fax server at a third-party vendor.

These data breaches have one thing in common: they were all caused by third-party vendors and could have been mitigated with proper risk management controls. However, most risk today is managed using ad-hoc, manual processes and antiquated tools. Unfortunately, security and privacy of patient medical records, HIPAA noncompliance and potential financial losses are just a few of the problems caused by these insufficient approaches to third-party vendor risk management.

In this white paper, we will look at the problems in current healthcare third-party vendor risk management and explore how a collaborative cloud platform can significantly change the way healthcare CIOs and CISOs manage their third-party vendor risk.