Third-Party Risk Management
Data breaches are on the minds of every C-Suite executive in Healthcare as the industry has seen a 30x growth in such incidents over the past decade. Third-Parties (i.e., vendors and business partners) with access to an organization’s electronic Protected Health Information (ePHI) and/or Personally Identifiable Information (PII) represent a significant risk due to the potential for data breaches. In fact, as of 2020 over 60% of healthcare organizations have suffered a third-party breach.
Until recently, Third-Party Risk Management (TPRM) has been primarily treated as a compliance and contract approval “checkpoint.” Due to the significant growth in healthcare data breaches and the awareness of the risk posed by third-party security weaknesses, healthcare organizations have started implementing stronger TPRM programs that focus on uncovering true security weaknesses in the hopes of addressing this large-scale problem.
Intraprise Health delivers proven TPRM assessment and validation services provided by certified healthcare security experts for all sectors of the healthcare industry. Organizations seeking a security-focused solution and the ability to scale-up to meet their needs can rely on Intraprise Health. Although we customize our program to meet your requirements, our core TPRM services utilize the following approach:
– Assess current practices and optimize processes, workflow and supply chain alignment
– Develop a pre-assessment (third-party) profiling document and tiering model, gather intelligence about your third-parties
– An assessment is performed based on the profiling information gathered, tier-level and business requirements resulting in a dynamic assessment specific to each third-party
– A report of findings is created for each assessment with an assigned risk rating and remediation recommendations for any discovered gaps
– Optionally, our consultants can work with your third-parties to ensure remediation tasks are successfully completed
– Each third-party is scheduled for a follow-up assessment within a designated timeframe
Our TPRM Services provide a comprehensive, customized and scalable set of services performed by seasoned experts on a fully or partially outsourced basis. Contact us to learn more about Intraprise Health’s industry-leading TPRM services and software, BluePrint Protect™, to more optimally manage your third-party risks.
Third Party Risk Management: The essential elements of a strong program.