CynergisTek Continues to Assist Healthcare Clients Manage Third-Party Supply Chain Security Risks

Two long-term clients and award-winning comprehensive health care systems in the northeast and southeast regions renew vendor security contracts with CynergisTek

CynergisTek, leading cybersecurity, privacy, compliance, and IT audit firm helping organizations in highly regulated industries navigate emerging security and privacy issues, announces two six-figure Vendor Security Management (VSM) contract renewals, one with a nationally recognized health system in the northeast, and the other with a community healthcare system in the southeast region. Both contracts are valid for three years and saw a revenue increase from their previous values.

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“We recognize the industry’s need to focus on vendor security management and serve our community to help build and strengthen their proactive programs.”

“Supply chain vendors have become an increasingly popular target for cybercriminals and hackers attacking healthcare. Understanding the risk that these vendors present is an important part of managing risk across the entire attack surface. These two long-term renewals are also significant as we have seen a 100% renewal rate in Q1 thus far, supporting growth in pre-sold revenues. This is also a direct indication that our customers value our enhanced services, rely on our expertise, and trust our capability to help them minimize the impact of disruption to their business,” said Mac McMillan, President & CEO of CynergisTek. “We recognize the industry’s need to focus on vendor security management and serve our community to help build and strengthen their proactive programs.”

The healthcare industry relies heavily on third parties to provide a variety of services that help drive their business and support their operations, but cybercriminals regularly target these vendors to gain unauthorized access to enterprise systems. CynergisTek’s VSM service is used to assess and manage an organization’s third-party privacy and security concerns from business associates who have access to protected health information (PHI). In today’s threat landscape, there is increasing recognition of the need for the healthcare community to take a proactive approach to cybersecurity. Organizations need to ensure greater due diligence in understanding their security posture and in overseeing the privacy practices of their business associates. Both clients’ ongoing renewal of their VSM contracts demonstrates their concern regarding vendor security and the confidence they have in CynergisTek’s managed services to address this issue.

“CynergisTek’s unique collaborative approach to its managed services is manifested in our partner philosophy of consulting and advisory support. Our analysts and consultants work side by side with their client counterparts to perform this critical function. This allows our clients to have a higher degree of confidence in their supply chain,” said Andrew Mahler, VP of Compliance & Privacy Services for CynergisTek.

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