THIRD-PARTY RISK MANAGEMENT

Best Practices for Third-Party Risk Management in Healthcare

Third-party risk management (TPRM) should be a top priority for every healthcare organization. While organizations in any industry can end up on the wrong side of supply chain risk or a cybersecurity attack, healthcare providers are subject to many factors that increase the likelihood and potential impact of a risk incident in their third-party ecosystem.

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Cyber and Third-Party Risk Solutions
 

This white paper will explore the laws and organizations regulating TPRM in healthcare, the third-party threats healthcare organizations face, the steps to building a strong TPRM program in healthcare and best practices for managing ransomware attacks.

Healthcare organizations are common targets for third-party incidents and cyber-attacks. According to the OCR, there were 5,887 healthcare data breaches of 500 or more records reported between 2009 and 2023. In 2022, two in three healthcare facilities reported a ransomware attack. Considering the frequency of attacks and dependency of healthcare organizations on their vendor ecosystems, it’s more important than ever for healthcare providers to implement strong TPRM programs.

This white paper will cover:

  • TPRM regulations for the healthcare industry
  • Third-party risks faced by healthcare organizations
  • How to build an effective TPRM program
  • Steps to ransomware response
  • Advantages of TPRM software in healthcare

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