Healthcare Vendor Management

Data protection is extremely important when working in healthcare.

In addition to the fact that exposing data kept by healthcare providers is a violation of HIPAA, data breaches can shatter a patient’s trust and they can leave you liable for severe damages.

About 20% of all data breaches in the world occur through third-party arrangements. Healthcare partners have to work with at least some secure data at least some of the time. Their handling of that data can put you at risk, and you could end up in that 20% statistic. It is necessary to vet healthcare vendors and ensure that they can provide the services or supplies you need without leading into cybersecurity danger. Fortunately, there is a process that can do all of this for you.

 

Healthcare Vendor Management Services

Healthcare Vendor Management Services provide a process that can protect you from risks that you may not foresee. Robust Vendor Management Systems create stages of assessment and protection that can empower you to work with the best vendors without sacrificing data security or wasting time.

Your Vendor Management can work through a number of resources. It is important to be properly designed to work in the healthcare vertical. Security requirements for healthcare providers and their partners are more regulated than most industries, and you have more specific concerns that need to be understood by your management service provider. It is important to get management systems that understand the intricacies of healthcare regulation.

 

Healthcare Vendor Management System

 

A healthcare VMS will work similarly to any other vendor management process, but there is an added component to protect against HIPAA and other federal regulation violations. The process works through a series of actions and services that take a comprehensive look at the vendor’s operations and history. A risk assessment will help you decide if a partner is right for you, and detailed audits of security systems and practices will identify potential threats. The process can also make suggestions on how to improve security for both parties.

You would not only become equipped to decide which providers you like; you would be getting a total action plan which would lead you to better security and healthcare data protection. This would be essential to quality care.

 

 

Solutions

 

Your Healthcare Vendor Management will protect you by providing four distinct and time-sensitive solutions. Those solutions are risk assessment, security assessment, OCIE cybersecurity initiatives review, and NIST SP800 building assessment.

The risk assessment will serve as a general overview of the healthcare vendor’s operational philosophy and history. It will give you an idea of how much risk you would take by partnering with the third party. The security assessment is a more detailed look at the specific security practices involved. It will identify exact risks, rather than general risks. The OCIE and NIST SP800 reviews assess how well the company is complying with these federal guidelines.

 

 

Risk Assessments

It is important to take certain precautions with third-party interactions, especially with regards to healthcare. Third-parties can present unintentional vulnerabilities to healthcare businesses simply due to the nature of the system.

A risk assessment reviews healthcare suppliers to see how well they manage security and IT issues in general. The process will give you an understanding of what risks you may be taking by partnering with a particular company. Furthermore, it will identify potential solutions for mitigating those risks. As a third-party service, a risk assessment can deal fairly with both parties to find an equitable solution that keeps security tight and business on track. This would ultimately save you time by allowing you to preserve a working partnership.

Security Assessments

A security assessment is a more detailed approach than a risk assessment. A risk assessment will look at a company’s history and track record. A security assessment digs into the nuts and bolts of the healthcare vendor’s security strategy. This process sits at the heart of vendor management. It takes more time and effort, but it is essential to VMS.

Security assessments are often coupled with risk assessments, and these service plans are how Foresite can find solutions to security issues. Seeing how the vendor manages and monitors healthcare data enables us to give them a score and offer actionable plans that could improve their overall security outlook. This way, you don’t have to skirt a vendor that would otherwise be perfect. You can get the best of every world.

OCIE Cybersecurity Initiatives Reviews

The security assessment looks at their security practices. An OCIE cybersecurity initiative review is even more specific. We’ll compare their operation to OCIE cybersecurity initiatives. This holds the healthcare vendors’ real practices up to a federal standard. It makes it easier to explain and compare discrepancies and check for compliance issues.

The review process will inspect proper access rights, vendor management practices and data loss prevention. It will also inspect response initiative plans (ensuring they are time-sensitive) and provide feedback for the third party to ensure that they are properly handling communication and healthcare data. The OCIE reviews create a standard that we use to score and assist potential partners before you make a commitment

 NIST SP800 Guideline Assessment

Another solution we offer is a NIST SP800 guideline assessment. The NIST SP800 is a set of federal requirements that apply to security standards for federal information systems. In the healthcare space, this will specifically involve HIPAA.

The assessment process assures that your vendor is in full compliance with the NIST SP800. If the review finds discrepancies, they will be reflected in our assessment. Rather than simply score a company and move on, we will share our findings with the party in question. That enables you to improve the working relationship with a healthcare partner — as opposed to having to replace a valued supplier. All of this helps you provide better healthcare rather than spending time worrying about third-party providers.

A healthcare VMS will work similarly to any other vendor management process, but there is an added component to protect against HIPAA and other federal regulation violations. The process works through a series of actions and services that take a comprehensive look at the vendor’s operations and history. A risk assessment will help you decide if a partner is right for you, and detailed audits of security systems and practices will identify potential threats. The process can also make suggestions on how to improve security for both parties.

You would not only become equipped to decide which providers you like; you would be getting a total action plan which would lead you to better security and healthcare data protection. This would be essential to quality care

With every new business partner, your data is exposed to more risk.

Foresite’s Vendor Management Services can oversee the data exchanged between your firm and your vendor affiliates to identify potentially exploitable gaps, and prevent breaches 24/7/365. Learn more by downloading our data sheet now!

INTERESTED IN WHAT FORESITE CAN DO FOR YOU?

At Foresite, we like to consider each client’s needs individually, in order to determine the best approach to your unique requirements. So let’s talk! Contact Foresite to request a scoping call today.