The ability to adequately assess and understand the risks that vendors pose is a problem for healthcare providers, and a costly one at that, according to a new report. The study by risk management platform Censinet and the Ponemon Institute shows the yearly hidden cost of managing vendor risk is $3.8 million per healthcare provider, higher than the $2.9 million that each data breach costs providers. This adds up to a total cost across the industry of $23.7 billion. Based on a survey of a survey of over 550 healthcare IT and security professionals the report finds that 72 percent… [Continue Reading]
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