Webinar on Demand: The Economic Impact of Third-Party Risk Management in Healthcare
Healthcare organizations are struggling to prevent or mitigate the severity of a third-party or vendor-related data breach. Moreover, new research shows that current approaches to assessing and managing vendor risks are failing. Problems with current approaches to third-party risk management are creating a real economic impact as these organizations are seeing an increase in HHS and OCR fines and investigations.
Censinet and the Ponemon Institute teamed up to conduct a survey of 554 healthcare IT and security professionals who are involved in managing their organizations’ vendor risk management programs and the results not only quantified known challenges but also uncovered vast hidden organizational costs.
Watch our recorded webinar for a deep dive into the research data and a discussion of best practices.
See key results including:
- The indirect and direct costs of third-party risk management for the healthcare industry averages $23.7 billion annually
- Hidden costs are 10x direct FTE costs
- A 2.5x gap in budget to investment required to properly manage risk
- More than half of healthcare organizations have experienced recent data breaches introduced by third-party vendors
To watch the video and download the research report, fill out the form today!
Presented by Ed Gaudet, CEO and founder of Censinet, and Dr. Larry Ponemon