Third-party risk management for healthcare organizations.

Validation is a valuable tool in any TPRM program, but it must be carefully balanced with objectives related to speed and cost. Through secure, intelligent data reuse, CORL provides validated responses across thousands of healthcare vendors. Where manual validation is desired or recommended, CORL delivers on-demand operational services to manage follow-up. 

Central to our approach is the belief that when it comes to TPRM, earlier is better. Together, CORL’s proprietary data asset, seamless GRC integrations, and CORL Cleared Vendor Directory empower healthcare providers to quickly identify vendors who are contract-ready to make more confident, informed, and secure decisions. 

At CORL, we’re committed to addressing risk both inside and outside of your organization. Through Meditology Services, we deliver comprehensive cybersecurity compliance and consulting services that help you measurably reduce risk across your entire organization. Our services include assurances, penetration testing, staff augmentation, and much more. 

The TPRM assessment data exchange attempts to expedite security assessment response by scaling the utilization of vendor data across multiple clients. While the concept makes sense, there are a few challenges with this approach that negate its ability to solve TPRM holistically.  

First, it neglects to fully address the sensitive nature of vendor data. Vendors are often resistant to share security information with exchanges for fear of that information being distributed broadly across parties, or worse, compromised in a breach. And yet, a vendor’s willingness to share information that is robust, complete, and accurate is a gating factor in the efficacy of an exchange.  

Second, security data naturally becomes less accurate with the passage of time. If an exchange is not actively managed to reflect vendors’ evolving realities, its data continues to become less relevant and less reliable for decision-making.  

Third, exchanges fail to address the prioritization dilemma at the heart of the TPRM problem. Not all parties present the same level of risk to a healthcare organization. By treating all vendors the same, exchanges do nothing to incentivize risk reduction by vendors and are inherently less efficient than a risk-aligned approach.  

Finally, organizations who add their data to exchanges often do so in different standards and formats, making it difficult to benchmark, analyze, and understand. Lack of standardization in security assessment data is a key obstacle to healthcare decision-makers making more informed decisions about vendor risk.  

By contrast, CORL takes a Clearinghouse approach to data reuse, which requires validation from both parties before sharing sensitive information. The entire process is stewarded by human support, to ensure the validity, accuracy, standardization, and security of sensitive data for all parties. This approach couples the benefits of the exchange while overcoming its many weaknesses.  

While technology can significantly aid in the distribution, storage, and organization of security questionnaires, it does not address the core operational challenges at the heart of Third-Party Risk Management (TPRM). 

These operational challenges range from the most tactical, such as follow-up to ensure assessment completion and validity, to the most strategic, such as translating isolated assessments into a more strategic perspective on risk across a healthcare organization’s vendor community.  

The CORL team addresses these challenges by combining technology and human expertise in the first service-centered solution to solve the heart of the TPRM problem for healthcare.  

Healthcare specificity is crucial to solving healthcare TPRM due to the unique and stringent requirements of the industry. While many assurances and controls translate across sectors, healthcare requires a specific understanding of how these measures apply to its own regulatory landscape, including HIPAA.  

Because of the amount of patient health information (PHI) exposed to today’s vendors, healthcare finds itself in the crosshairs of the most formidable threats. In addition to its unrivaled threat landscape, healthcare also has an unprecedented cost of compromise.  

As CISOs and other healthcare decision-makers work to understand and manage their third-party risk, they must do so with an understanding of healthcare’s complex operational processes, diverse vendor categories, and specific areas of vulnerability.  

CORL was founded to solve TPRM for healthcare organizations and their vendors. With a leadership team that has served in executive-level healthcare cybersecurity positions, we are uniquely equipped to understand the complex and multifaceted TPRM challenges today’s CISOs and healthcare cybersecurity professionals face.