Censinet Accelerates Healthcare Vendor Adoption of Advanced Third-Party Risk Assessment Processes
Business Wire | March 12, 2020
Censinet, the leading collaborative risk network for healthcare providers, today announced an open invitation for vendors across the healthcare industry to join Censinet’s growing database of over 5,000 risk-assessed healthcare suppliers and products. Those that complete an assessment on the Censinet platform are able to reduce third-party risk assessment times from weeks to seconds, differentiate on security, and become a trusted partner to buyers in healthcare. Recent data from the Ponemon Institute and Censinet detail the challenges vendors face when responding to risk assessment requests. Fifty-five percent of vendors feel that risk assessments are costly and time consuming, spending an average of $2.5 million annually complete. In fact, as many as 43% of vendor respondents are still using only manual, spreadsheet-based processes, which become out-of-date within three months or less of completing the ambiguous and confusing risk questionnaires.