Nordic Consulting Selects Censinet to Transform Global Third-Party Risk Management
Post Summary
Nordic Consulting partnered with Censinet to enhance global third-party risk management and improve cybersecurity across its vendor and product portfolio. The partnership leverages Censinet RiskOps™, a purpose-built platform for healthcare vendor risk management.
A HIPAA-secure, cloud-based risk management platform designed for healthcare organizations. Automates vendor and product risk workflows, including assessments, reassessments, and remediation. Provides access to up-to-date security information on over 9,000 vendors and 22,000 products.
Enables Nordic to scale third-party risk assessments without increasing headcount. Reduces vendor assessment completion times to less than 10 days, the fastest in the industry. Improves visibility, productivity, and accuracy across the entire vendor risk lifecycle.
Growing ransomware attacks and data breaches highlight the need for strong cyber hygiene and risk controls. Effective third-party risk management safeguards patient safety, care delivery, and business operations.
Nordic works with more than 600 global clients and focuses on strategic advisory, cloud initiatives, and enterprise technology transformation. Demonstrated strong cybersecurity maturity by achieving "Cybersecurity Transparent" status through the KLAS Research-Censinet initiative.
MADISON, WI AND BOSTON, MA – Nordic Consulting, a global health and technology consulting company, announced that it has selected to work with Censinet, the leading provider of healthcare vendor risk management solutions, to strengthen Nordic’s management of third-party risk. By using Censinet RiskOpsTM, a purpose-built third-party and enterprise risk exchange for healthcare, Nordic can securely centralize and automate all of its vendor and product risk assessment data and insight while driving significant improvements in visibility, productivity, accuracy, and costs throughout the risk assessment, reassessment, and remediation lifecycle.
“With healthcare increasingly in the crosshairs, we wanted a platform that would give us comprehensive cyber risk visibility across our global vendor and third-party portfolio,” said Will Ogle, Senior Director of Risk and Compliance at Nordic Consulting. “We looked at many different solutions, and chose Censinet because it was the only solution that enabled our team to significantly scale up the number of vendors we could assess and shorten the time it took to assess each vendor, without having to hire more people.”
Censinet RiskOps enables immediate access to the most up-to-date security information, documentation, and evidence for over 9,000 vendors and 22,000 products in our Digital Catalog. Within a HIPAA-secure environment, providers can assess, negotiate, and strengthen mutual risk posture with third parties in the most efficient, cost-effective way. With 1-Click Assessments™ and automated reassessments, Censinet drives unmatched productivity, with average assessment completion time at less than 10 days, the industry’s fastest solution.
With fully automated risk workflows and enterprise-wide coordination, Censinet RiskOps enables all stakeholders to come together as a single, cohesive team to respond more efficiently and effectively to risks that threaten business operations, care delivery, and patient safety. Business and clinical leaders benefit from faster procurement processes, more transparent contracting, and fewer post-purchase problems. Risk owners can eliminate inaccurate and time-consuming manual processes and achieve maximum risk visibility across the full vendor and product contract lifecycle, resulting in better enterprise performance.
“The recent number of significant data breaches and ransomware attacks on health systems emphasizes the urgency for heightened cyber risk management and security controls across the care continuum,” said Cormac Miller, President and Chief Commercial Officer at Censinet. “The Nordic team is working with some of the most critical and sensitive IT systems at their customer sites, and knows the importance of strong cyber hygiene, particularly as it relates to third parties. Nordic itself has demonstrated its strong cyber maturity to its customers, achieving “Cybersecurity Transparent” status through the KLAS Research-Censinet initiative, which measures cyber preparedness across healthcare vendors. Our partnership with Nordic provides a transformative approach to third-party risk management to significantly strengthen cybersecurity across their organization and to safeguard their global network of client health systems, businesses, and people.”
About Nordic
Nordic is an award-winning global health and technology consulting company that partners with health leaders around the world to create healthier systems, businesses, and people. Together, our global team of more than 2,000 professionals brings decades of experience across our key focus areas of strategic advisory, digital and cloud initiatives, implementation and support, and enterprise technology transformation. Nordic and its network of companies, including Bails, Healthtech, and S&P Consultants, support more than 600 clients in their efforts to harness the power of technology on a global scale. Learn more at Nordicglobal.com.
About Censinet
Censinet, based in Boston, MA, enables healthcare organizations to take the risk out of their business with Censinet RiskOpsTM, the first and only cloud-based exchange that integrates and consolidates enterprise risk management and operations capabilities across critical clinical and business areas. RiskOps builds upon the Company’s foundational success with third-party risk management (TPRM) for healthcare. Censinet transforms healthcare risk by increasing productivity and operational effectiveness while eliminating risks to care delivery, data privacy, and patient safety. Find out more about Censinet and its RiskOps platform at censinet.com.
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Contacts:
Justyn Thompson
(617) 221-6875
jthompson@censinet.com
Twitter: twitter.com/censinet
LinkedIn: linkedin.com/company/censinet
Blog: censinet.com/blog
Key Points:
What is the partnership between Nordic Consulting and Censinet?
- Nordic Consulting partnered with Censinet to transform its global third-party risk management processes.
- The partnership leverages Censinet RiskOps™, a purpose-built platform for automating vendor risk workflows, improving cybersecurity, and enhancing visibility into third-party risks.
- Aims to safeguard Nordic’s global network of client health systems, businesses, and people.
What is Censinet RiskOps™, and how does it enhance third-party risk management?
- A HIPAA-secure, cloud-based risk management platform tailored specifically for healthcare organizations.
- Features include:
- 1-Click Assessments™ and automated reassessments for streamlined vendor risk evaluations.
- Access to security information, documentation, and evidence for over 9,000 vendors and 22,000 products in the Digital Catalog.
- Fully automated workflows for risk assessments, remediation, and enterprise-wide coordination.
- Reduces vendor assessment completion times to less than 10 days, the fastest in the industry.
What challenges does this partnership address for Nordic Consulting?
- The increasing volume and complexity of cybersecurity threats, such as ransomware and data breaches.
- The need for comprehensive visibility into third-party risks across a global vendor and product portfolio.
- Scaling vendor risk management processes without increasing headcount or administrative burden.
- Eliminating time-consuming manual processes while ensuring maximum accuracy and efficiency.
How does Censinet RiskOps™ benefit Nordic Consulting’s operations?
- Scalability: Allows Nordic to assess more vendors in less time without hiring additional staff.
- Speed: Reduces vendor assessment times to less than 10 days, accelerating procurement and risk remediation.
- Visibility: Provides real-time access to vendor and product risk data to improve decision-making.
- Efficiency: Automates risk workflows, reducing administrative overhead and manual errors.
- Collaboration: Brings together key stakeholders to address risks more effectively and efficiently.
Why is third-party risk management critical in healthcare?
- Healthcare organizations rely on third-party vendors to store, process, and manage sensitive patient data.\
- Vendors are frequent targets of ransomware attacks and data breaches, which can disrupt care delivery and compromise patient safety.
- Effective third-party risk management helps safeguard business operations, ensure regulatory compliance, and protect patient data.
What sets Nordic Consulting apart as a healthcare consulting company?
- Nordic Consulting supports more than 600 global clients, offering expertise in strategic advisory, cloud initiatives, and enterprise technology transformation.
- Demonstrated strong cybersecurity maturity by achieving "Cybersecurity Transparent" status through the KLAS Research-Censinet initiative.
- Partners with healthcare organizations worldwide to create healthier systems, businesses, and people.
How does the Censinet-Nordic partnership ensure better cybersecurity outcomes for healthcare organizations?
- Strengthens Nordic’s ability to assess and manage third-party risks across its global vendor network.
- Helps safeguard sensitive IT systems at Nordic’s client sites by promoting strong cyber hygiene and risk controls.
- Provides transformative solutions for vendor risk management that improve efficiency, visibility, and security across the care continuum.
