Censinet Advances Cyber Risk Management in Healthcare with Real-Time Portfolio Risk Management and Peer Benchmarking

First and Only Integrated Capabilities Deliver Unique Actionable Insights to Optimize and Prioritize Cybersecurity and Risk Programs, Investments, and Resources  

BOSTON, MASS. – September 6, 2022 – Censinet, the leading provider of risk management solutions for healthcare, today announced Censinet RiskOps^TM 5.0, a significant new release of its flagship cloud-based risk exchange that enables seamless and secure sharing of cybersecurity and risk data across a collaborative network of healthcare delivery organizations (HDOs) and third-party vendors and their products & services. Purpose-built for healthcare, Censinet RiskOps 5.0 introduces several new innovations which help protect patient safety, data, and care operations from lethal cyber threats and attacks including portfolio risk management, enterprise assessments with support for NIST Cybersecurity Framework (CSF) and peer benchmarking.

Effective decision-making in cybersecurity and risk management requires a real-time, contextually-aware view of the business, including its assets, processes, investments, resources, threats and their potential impact. By understanding context and business impact, risk teams can quickly and effectively locate, prioritize, and remediate risks while leadership has the right data at the right time  to inform optimal investment and resource decisions.

Censinet’s new portfolio risk management capabilities provide this real-time context so risk professionals can manage risk across all organizational levels (system, region, enterprise), business processes, and assets including supply chain, procurement, clinical care, technology, operations, biomed, third-parties, medical devices, research, data exchange, and institutional review boards (IRB). In addition, Censinet prioritizes these activities across the portfolio lifecycle to take the next-best action for reducing risk.

“Censinet RiskOps 5.0 sets a new bar for third-party and enterprise risk management in healthcare,” said Ed Gaudet, CEO and Founder of Censinet. “These new capabilities were designed in partnership with leading global healthcare organizations, and represent a fundamental shift in how healthcare organizations manage cybersecurity and risk management.”

Censinet RiskOps 5.0 also supports new healthcare-specific peer benchmarking capabilities: organizational, NIST CSF, and HHS 405d Health Industry Cybersecurity Practices (HICP). These benchmarks provide HDOs with the ability to understand their own organization’s security performance, coverage, and compliance in real-time, and makes it easy to see how these metrics compare to their peers.

Organizational Benchmarking  provides insight to about how investments, resources, and your overall cybersecurity program compare with HDO peers across the following areas:

• Information Technology and Cybersecurity Investments
• Cybersecurity Program Coverage
• Cybersecurity Program Ownership
• Cybersecurity Resources
• Cyber Insurance

“Leveraging Censinet adds significant value to our overall cybersecurity and risk programs,” said Erik Decker, Chief Information Security Officer at Intermountain Health. “Censinet portfolio risk management and peer benchmarking capabilities will provide additional insight into our organization’s cybersecurity investments, resources, and overall program and help us identify process, resource gaps, and investment opportunities.”

Additional capabilities included in Censinet RiskOps 5.0:

• NIST CSF 1.1 Assessment – streamlines and automates an enterprise risk assessment for HDOs using NIST CSF. Censinet RiskOps 5.0 provides easy-to-use capabilities for managing compliance with NIST CSF 1.1 and comparing coverage with other peer HDOs. With out-of-the box curated support for all 5 NIST CSF functions, 23 categories, and 108 sub categories, Censinet combines evidence collection, automated action plan generation, and mitigation and remediation tracking driven by its purpose-built workflows, powerful roll-up reporting, and new benchmarking dashboards.
• Portfolio Tiering – enables organizations to categorize levels of risk across their portfolio based on attributes such as process or asset type, importance, and business impact. Portfolio tiering speeds up assessment completion time and increases overall effectiveness by driving workflow automation based on pre-defined criteria such as assessment type and scope, reassessment schedules, findings, and remediations.
• Censinet Cybersecurity Data Room™ – provides third-party vendors with a highly-secure, HIPAA-compliant environment to manage security and risk assessments for all of their products and services. The Censinet Cybersecurity Data Room enables vendors to securely manage and share data with their healthcare customers. With Censinet’s 1-Click Assessment™ capability, vendors have complete control to instantly share data and documentation as requested, avoiding a lengthy assessment process that often slows down sales or renewals. HDO’s get instant access to a longitudinal risk record on more than 30,000 vendors and products with the most up-to-date security data, documentation, and evidence.

“Today, organizations face a multitude of risks from various sources, and these risks will trigger more risks as they cascade across the organization, often with significant consequences,” according to a Forrester report co-authored by Forrester Principal Analyst Renee Murphy. “It becomes critical for risk pros to evaluate these risks individually by domain (information security, privacy, business continuity, etc.) and collectively as interconnected risks to contextualize their significance to the business.”¹

¹”The State Of Enterprise Risk Management, 2022”, Forrester, May 10, 2022

Availability

Censinet RiskOps 5.0 is available now. Join Censinet to learn more about how peer benchmarking and portfolio risk management can help protect patient safety and care operations www.censinet.com/riskops-demo-request/ or learn more at www.censinet.com.

About Censinet

Censinet enables healthcare organizations to take risk out of their business with Censinet RiskOps^TM,  the first and only cloud-based exchange that integrates and consolidates enterprise risk management and operations capabilities across critical clinical and business areas. Censinet transforms healthcare risk by increasing productivity and operational effectiveness while eliminating risks to care delivery, data privacy, and patient safety. Censinet is based in Boston, MA and can be found at https://censinet.com/

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Contacts:

Justyn Thompson
(617) 221-6875
jthompson@censinet.com

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