Third-party vendor risk management continues to be an expensive challenge for healthcare providers. Overall, third-party risk management costs the healthcare industry $23.7 billion per year, or $3.8 million per healthcare provider, which far surpasses the $2.9 million that each data breach costs providers, according to a recent industry report. What’s more, reliance on inefficient third-party vendor-risk management processes and the inability to automate risk assessments and remediation has created an environment where third-party breaches are commonplace and expensive.
Providers are in a tough spot: As their reliance on third parties increase, so do their risks.
Take part in this discussion and share your experiences. You likely won't solve the challenge of vendor-risk management, but you’ll learn gain knowledge on how to mitigate the risk.