[ISN] Healthcare Vendor Risk Management Programs Lagging, Says Study

http://healthitsecurity.com/news/healthcare-vendor-risk-management-programs-lagging-says-study By Elizabeth Snell healthitsecurity.com July 8, 2015 Healthcare vendor risk management programs can have a huge impact on a healthcare organization’s ability to keep sensitive data – such as patient PHI – secure. However, if a recent study is any indication, healthcare vendor risk management programs have room for improvement. The 2015 Vendor Risk Management Benchmark Study, conducted by The Shared Assessments Program and Protiviti, found that vendor risk management programs within financial services organizations are more mature than companies in other industries, such as insurance and healthcare. “Even the more optimistic assessments of the current state of vendor risk management indicate that significant improvements may be needed,” the report’s authors explained. “The time for progress and improvements in vendor risk management capabilities is now, particularly when considering that cyberattacks and other security incidents are very likely to continue increasing.” The survey interviewed more than 460 executives and managers in various industries. Respondents were asked to rate their organization’s maturity level in different areas of vendor risk management on a 0 to 5 scale, with 0 equal to “Do not perform” and 5 equal to “Continuous improvement – benchmarking, moving to best practices.” […]