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Essential Guide for Vendors: Key Features to Look for in a Cyber Security Assessment Tool for Healthcare TPRM
Read Due Diligence5 Minute Read
The Ultimate TPRM & Cyber Risk Glossary
When in doubt, use an acronym.
Whether you’re a seasoned healthcare CISO or you’re new to the industry and convinced people are just making up acronyms—this glossary has you covered. From standard industry frameworks to CORL-specific terms, it’s your Rosetta Stone for healthcare TPRM, cyber risk, and compliance.
Understanding Due Diligence
Due diligence refers to the thorough process of investigating, assessing, and validating a third-party vendor or partner before entering into a formal business relationship. It encompasses evaluating the vendor’s financial health, legal standing, cybersecurity practices, and compliance with industry regulations. Due diligence is essential for identifying and mitigating potential risks that a third-party might introduce, including data privacy risks, operational risks, and legal liabilities.
Conducting due diligence involves reviewing documentation, analyzing risk factors, and, where necessary, performing site visits or audits to gain a comprehensive understanding of a vendor’s risk profile. A rigorous due diligence process not only helps organizations make informed decisions about their partners but also strengthens governance practices and supports compliance with regulatory requirements.
Through our cybersecurity consulting practice, Meditology Services, we help organizations ensure proper due diligence so that they build secure, trustworthy partnerships and minimize exposure to third-party risks.