Healthcare organizations face increasing challenges in managing third-party risk, as the number of vendors, network-connected devices, and cybersecurity threats continues to grow. The 11 secrets TPRM vendors won’t tell you highlight the limitations of current solutions and provide actionable insights to transform vendor risk management. By embracing automation, collaboration, and 100% vendor assessments, healthcare organizations can safeguard patient data, improve efficiency, and strengthen their cybersecurity posture.
You need to assess 100% of vendors, as any vendor can pose a risk. Most organizations only afford to assess critical or high-risk vendors, leaving gaps. TPRM software is often generalized for multiple industries, not tailored for healthcare. Customizing platforms often requires significant time and cost. Assessments may be completed by offshore contractors, raising security concerns. Vendor certifications may not cover all security controls. Certifications are only valid if a vendor’s security posture remains unchanged. Vendors should still complete a risk assessment questionnaire, even with certifications. Employee training is essential to mitigate data risks and improve awareness. Automation is crucial to assess all vendors efficiently and effectively. Risk management requires a collaborative effort across multiple departments.
Healthcare organizations rely on third-party vendors for essential services and technologies, increasing their attack surface. Cybercriminals target weak links, including low-priority vendors, to exploit vulnerabilities. Effective TPRM ensures patient safety, data security, and regulatory compliance while reducing the risk of costly data breaches.
Eliminates manual tasks like spreadsheets, follow-ups, and scoring questionnaires. Enables 100% vendor assessments, ensuring no vendor is overlooked. Provides real-time insights, improving decision-making and visibility. Automates remediation workflows, including tracking vendor compliance and progress. Frees up IT and risk teams to focus on strategic initiatives rather than administrative tasks.
Cybercriminals target all vendors, not just critical ones, to find vulnerabilities. Risk doesn’t discriminate; low-priority vendors can become attack vectors. Comprehensive assessments ensure organizations are 100% risk-aware, reducing the likelihood of breaches.
Break down silos between departments to foster collaboration and visibility. Use automation to assess and re-assess vendors efficiently. Train employees to recognize cybersecurity threats and understand their role in protecting sensitive data. Regularly review and adapt processes to eliminate inefficiencies and address emerging threats. Foster interdepartmental cooperation to align resources and improve decision-making.
Automation-first approach: Streamlines processes and enables 100% vendor assessments. Improved collaboration: Enhances visibility and coordination across IT, procurement, legal, and compliance teams. Better decision-making: Real-time insights help identify and mitigate risks faster. Stronger cybersecurity: Protects patient data and critical operations by addressing vulnerabilities across all vendors. Cost and resource efficiency: Reduces manual tasks and frees up staff for higher-value activities.