Canton & Company’s Post

Change Healthcare Outage Update by CSO Toby Gouker, PhD, CHISL, GSLC, CISM, CPEM Addresses Need for Congressional Action: https://lnkd.in/g_2PgZ2Y The systems affected by the Change Healthcare outage are expected to be back up by tomorrow, March 15. The issues caused are expected to continue for much longer. Featured by SC Media, Toby’s update addresses the health sector’s underlying challenges in Enterprise-Wide Risk Management, the $22 million ransom, the estimated billions of dollars in lost revenue as well as clients, and the significant impact on providers, particularly small practices and rural groups, most at risk. Intervention from Congress will be crucial to rescue entities impacted by this widespread disruption. For additional Healthcare Security & Technology insights from First Health Advisory’s Leadership sign up for First Health Fridays at https://lnkd.in/gW7T94Nu or contact us at sales@firsthealthadvisory.com to schedule a consultation. #EnterpriseRisk #ThirdPartyRisk #ThirdPartyRiskManagement #HealthcareIT #HealthcareSecurity #HealthcareOrganization #CyberRiskManagement #DataSecurity #DigitalHealth #CyberRisk #RiskManagement

🗣 Webinar alert 🗣 Learn from the recent Change Healthcare breach and discover how to enhance your third-party risk management (TPRM) program. The attack on Change Healthcare had severe consequences, impacting patient care, cash flow, and potentially exposing sensitive health data of over one-third of US citizens. The estimated cost? A staggering $2.5 billion. Traditional TPRM practices have been revealed as manual, compliance-focused, and reactive. But there is a more efficient way forward. Join us to: - Gain insights from the Change Healthcare incident. - Implement best practices for a risk-centric TPRM program. - Explore an AI-driven solution with SAFE for automated TPRM that scales your strategy. Don't miss out on this opportunity to revolutionize your TPRM approach, prioritize risk management, streamline processes, and optimize vendor networks. Save the date: Tuesday, July 23rd, 1 ET. #ciso #grc #risk #crqm #tprm #cybersecurity

It should not take a crisis to bring change. The point of disrupting the status quo is evolution. What the cyberattacks on Change Healthcare should create is foresight on future status quo bias disruption. No one system crisis should cause this much devastation to the operations of healthcare/revenue cycle. Where are the contingency plans? Like we learned with COVID-19, there are no plans in place.

As we face rising systemic risks in healthcare, it’s more important than ever to come together as a community. Collaboration among providers, policymakers, and patients can lead to innovative solutions that strengthen our healthcare system. By sharing resources, knowledge, and support, we can address challenges head-on and build a more resilient infrastructure for everyone. We have to be intentional about uniting our efforts to ensure quality care and equitable access for all. How can we work together to create positive change? #StrongerTogether #Healthcare #SystemicRisk #Collaboration

In recent years, systemic risk has shifted from being an issue primarily for the financial sector to a critical and escalating concern for healthcare. In a recent Forbes article, Ed Gaudet, CEO and Founder of Censinet, highlights the cyberattack on Change Healthcare and CrowdStrike's IT outage in early 2024 exposed the devastating impact of sector-wide failures on patient care and healthcare operations. When these critical systems fail, even momentarily, the effects ripple across hospitals and care providers, causing dangerous delays in treatment and access to medication. Unlike financial systems, where shocks can affect markets, healthcare disruptions can have life-threatening consequences. Read the entire article here: https://lnkd.in/gQQUjkwM

🌟 NEW RESEARCH! I'm excited to announce the new Forrester report on healthcare #concentration #risk with my brilliant colleague, Arielle Trzcinski! This is a must read for every #security & #risk pro in #healthcare & beyond. Why? Concentration risk events (especially in healthcare) set off cascading failures w/ disruptions for healthcare organizations & dire consequences for patients. You don’t need to understand concentration risk to be impacted by it, but it won’t get any better until you do! This research would not be possible without Amy DeMartine & Tiffany Do. CHECK OUT the blog 👇 and read the full report to identify & mitigate healthcare concentration risk in five key areas. #ERM #GRC #riskmanagement #compliance https://lnkd.in/ev2za52K

Health care sector remains a prime target for cyberattacks The large-scale #cyberattack on Change Healthcare in February 2024 is a stark reminder that digital health care infrastructure is both vital to people's daily lives and vulnerable to attack.  https://lnkd.in/gZdbJKk2 GlobalData Healthcare

The Change Healthcare crisis signals a critical moment for transformation. It's a chance to innovate and create a more resilient, efficient healthcare system. Read and share your thoughts—let's make this a catalyst for change. Read Opinion Essay: https://hubs.ly/Q02nRPsh0

The latest from AHA Market Scan: Key Insights on Health Care's Top Consulting Needs When it comes to improving performance in their most pressing business, clinical and operations areas, health care leaders often turn to management consulting firms for analysis and guidance. A recent Modern Healthcare poll of 31 health care consulting firms identified the most common areas hospitals and health systems are seeking help. https://lnkd.in/gGgAeiHA

The massive scale of this incident underscores the critical importance of your businesses having robust contingency plans in place to protect operations and ensure business continuity. As the nation’s top Healthcare Solutions Providers (HSP), we strongly urge everyone to review and reinforce the following essential safeguards to protect not only your business operations but also the well-being and safety of your patients, who rely on your services for critical care and support. Without a plan to resume operations, restore data and recover financially, your healthcare organization could suffer significant losses. Read our blog for key takeaways and critical actions to consider! Need guidance? We are here to help! https://hubs.ly/Q02HRB0s0 #TogetherWeDriveHealthcareForward Mark Marco Greg Rudy Tony Niemotka Sam Arman Angelina Miller Michael Sweeney Troy Murphy Amy Carroll David Pedersen Paul Mancini Daniel Livschutz James Forsythe Mike Jann Chris Jann, MBA, CHPSE Amy Frank Steven Losefsky West Ferry Sunita Arora Lisa Mohamed Chris Kardos Mike Chauvin Carla Niutta Alexis Fleishner, RACR Samantha Barich Jane Prock Lauren J. Roopak Manchanda Emily Rosenblatt Fernan Caparas Alim Pirmohamed Jason Benner Anna Maria Izquierdo-Porrera MD PhD