On-Demand Webinar

Strengthen Third-Party Vendor Risk Management: 7 Steps to Mitigating Fines and Costly Penalties

Meet Your Host

Dr. Sanjaya Kumar, MD, M.Sc., MPH

Chief Medical Officer, PolicyMedical

Strengthen Third-Party Vendor Risk Management: 7 Steps to Mitigating Fines and Costly Penalties

Learn how deploying a SaaS-based enterprise-wide solution that can automatically check and validate the integrity of your third-party business associates, vendors, contractors and medical staff in real-time across multiple state and federal databases eliminates the risk of costly fines, penalties and reputational shame.

Today, 30-50 percent of all hospital data breaches are attributed to business associates and vendors. Hospitals can be fined up to $11,000 USD for each claim filed with an excluded or sanctioned vendor -- and it's the hospitals' responsibility to always know the vendor status and position across multiple exclusion and sanction lists. Depending on the level of the breach, hospital personnel can also be liable - facing both fines and jail time. When breaches involve excluded or sanctioned vendors, CMS can revoke the hospital's right to bill for services rendered. 

During this on-demand webinar, you will learn:

  • Consequences of not validating the integrity of your vendors
  • How to set up continuous monitoring of your BAs and vendors
  • Approaches to eliminating vulnerabilities before a breach occurs 
  • Advantages of automating and streamlining vendor risk management

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