The Power of the Censinet RiskOps Network
When we formulated the concept of the RiskOps framework, we had an underlying goal in mind: it had to become more powerful and impactful as more vendors, providers, and healthcare technology innovators. When we turned that framework into our flagship platform, Censinet RiskOps, we understood that we needed a catalog with the following criteria:
- Scale. The digitization of healthcare, along with the escalation of healthcare technology innovation, amplifies the use of vendors and other third-party players. We need to ensure the rapid expansion of vendors and their product offerings. For the Censinet RiskOps Network, we architected the most powerful, cloud-based databases, which not only delivers scale, but also ensure integrity, speed, access, and security.
- Relevance. General-purpose, third-party risk management (TPRM) and vendor risk management tools just don’t work in healthcare. That’s why so many of our customers either migrated from antiquated spreadsheets and text lists or general-purpose (not healthcare-focussed) TPRM products to Censinet: because the catalog should reflect what is pertinent to our industry, leaving out the excess, time-consuming, irreverent assessment baggage, which can bog down even the most agile risk teams.
- Accuracy. This element consists of two components: data significance and timeframe. For data significance, the network must capture all the information about a vendor product: no more, no less. If there’s too much, you’re collecting irrelevant information and slowing your assessment process, which creates risk exposure. If too little information, you risk missing necessary vulnerability points, which also creates risk. For the timeframe part of accuracy, we match the data against emerging threats and vulnerabilities. What was acceptable last week may now open to a zero-day exploit and puts the entire organization at risk.
- Collaboration. More and more providers and vendors are choosing to share information for one simple reason: they want to cover their growing cybersecurity risk attack surface. No organization, including all of the largest players in healthcare, can sufficiently assess – and more importantly, re-assess – their portfolio of providers. We recently surveyed nearly 600 healthcare providers and discovered they’ve only assessed 23% (!) of their vendors for risk. That leaves an exposure surface of 77%, many of whom are already part of the Censinet RiskOps Network. The bad actors and hackers are collaborated to attack you, so isn’t it time you collaborated on a response.
The Censinet RiskOps Network in Action
The Censinet RiskOps Network is a collaborative digital catalog for healthcare risk and provides a foundational part of the Censinet RiskOps Platform. Not only does the network continue to grow significantly on a daily basis, but it also continues to become more accurate and timely. These two facets, size and efficiency, play critical roles in reducing risk exposure:
- Size. Because we focus on the healthcare industry, there’s a high likelihood that as a provider, your current vendor, product, or service is already part of the Censinet RiskOps network. More frequently, though, Censinet is also being used during the purchase process as well to ensure that the addition of third parties doesn’t equate to the addition of third-party risk.
- Efficiency. Having a single repository of vendors, products, and services is good for both healthcare providers and their third parties. Vendors supply critical information to the Censinet RiskOps Network, freeing them from ongoing assessments so they can focus on product advancements, including security. Providers can simply request information from vendors and other suppliers through the Network and receive that information in minutes, rather than months.