Healthcare is under attack, but there are proven ways to obtain cyber assurance to break the ongoing reactive cycle against evolving cyber threats. Learn directly from HITRUST and Clearwater the insights to measurably and materially reduce cyber breaches. We'll review the analysis from HITRUST's inaugural Trust Report and the obstacles needed to protect patient care, healthcare businesses, and innovators by breaking down the compliance path and security objectives.
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May 15, 2025
One of the most persistent challenges in healthcare third-party risk management (TPRM) is the lack of consensus on certifications and assurance models. Healthcare leaders often disagree on what constitutes sufficient evidence for vendors to demonstrate compliance with security expectations. This inconsistency not only creates confusion but also leads to inefficiencies and increased costs across the board.
The certification conundrum
In theory, certifications and assurance models provide a standardized way for healthcare vendors to prove they meet security and compliance requirements. However, the reality is far from that. Some healthcare entities strongly promote and even mandate HITRUST certifications as a gold standard for vendor security. These organizations value HITRUST’s comprehensive approach to evaluating compliance with frameworks like HIPAA, NIST, and others.
Conversely, other organizations may accept SOC 2 attestations or alternative industry certifications and assurance models as sufficient. SOC 2 reports focus primarily on data security, availability, processing integrity, confidentiality, and privacy, and they are widely recognized across industries. However, while SOC 2 can offer insights into a vendor's security posture, it does not provide the same level of healthcare-specific assurance as HITRUST.
The absence of assurance models
Further complicating the landscape are healthcare entities that do not mandate formal certifications or assurance models. Instead, these organizations often rely on manual, questionnaire-based assessments to evaluate vendors. This method may offer flexibility, but it comes at a significant cost. The manual nature of these assessments introduces inefficiencies, consumes valuable resources, and often lacks the rigor of more structured certification processes.
The ripple effect on vendors
The lack of standardization has a direct impact on vendors as well. Vendors that serve multiple healthcare clients often face a patchwork of requirements, forcing them to invest in multiple certifications and assurance processes. This not only increases operational complexity but also leads to higher compliance costs. In some cases, vendors might have to allocate resources toward certifications that are not universally recognized or valued.
Moving toward a unified approach
The healthcare sector needs a more standardized approach to certifications and assurance models. By collectively agreeing on a core set of certifications or at least establishing a clear hierarchy of acceptable assurance models, healthcare organizations can streamline TPRM processes. This would not only reduce redundancy but also foster greater transparency and trust between healthcare entities and their vendors.
Until such a consensus emerges, healthcare leaders must navigate this fragmented landscape with care. Encouraging open dialogue between healthcare entities and vendors, as well as advocating for cross-industry standards, can help reduce confusion and inefficiency. Ultimately, adopting a more consistent approach to certifications and assurance models is crucial for advancing healthcare TPRM and cybersecurity while minimizing the burden on vendors.
Beyond Compliance: The Critical Need for Healthcare Security Certification Beyond Compliance: The Critical Need for Healthcare Security Certification
May 7, 2025
Financial cybersecurity is a business imperative. From global banks to fintech startups, financial firms are under constant attack. Cybercriminals target them for data and money. It’s not just that internal systems are at risk. Vendor relationships and third-party tools can open the door to serious threats. Financial institutions must take a strategic, proactive approach to cybersecurity to protect customer trust and meet regulatory demands.
Understanding the importance of cybersecurity in finance
Why financial institutions are prime targets for cyber threats
Banks, credit unions, and financial technology firms handle sensitive customer data and high-value transactions. This makes them attractive targets for threat actors looking to steal information, disrupt services, or commit fraud. Threats include ransomware, credential theft, DDoS attacks, and insider threats. Bad actors don’t just come through the front door — they also sneak in through third-party connections.
The impact of cybersecurity breaches on financial organizations
Cyber breaches in finance cause more than reputational damage. They trigger regulatory penalties, legal costs, customer churn, and operational downtime. A single breach can cost millions. When the breach stems from a third party, those consequences compound, especially if due diligence and monitoring are lacking.
That’s why it’s essential to learn the best practices in financial security and protect your organization and customers.
Cybersecurity best practices for financial institutions
Secure sensitive customer data
The first step of financial cybersecurity is to prevent unauthorized access to protect important data. Use encryption for data at rest and in transit. Apply strict access controls based on roles. Segment networks to isolate critical systems. Maintain logs and monitor them continuously to detect anomalies early.
Implement multi-factor authentication (MFA)
MFA blocks many brute-force and credential-stuffing attacks. Make it mandatory for all internal users, administrators, and any vendors accessing your systems. Pair MFA with strong password policies to ensure maximum effectiveness.
Update and patch systems regularly
Outdated systems are prime targets. Make patching part of your regular security schedule. Track your inventory of hardware and software so you can respond quickly when vulnerabilities emerge. Automate updates wherever possible.
Managing third-party risk and vendor relationships
Third parties introduce risk. They may have weaker controls, misaligned compliance standards, or hidden vulnerabilities. Effective third-party risk management starts with risk-based vendor assessments. Ask key questions
- What data will they access?
- What security certifications do they maintain?
- How do they handle breaches?
Require vendors to demonstrate compliance through validated assessments. Even after onboarding, the risk doesn't go away. Monitor vendor performance continuously. Establish SLAs that include incident response and notification terms. Offboarding is just as important in financial cybersecurity. Revoke access immediately when a contract ends.
The role of technology in strengthening cybersecurity
Leverage AI and ML for threat detection
Leveraging technological advancements is one of the best practices in financial security. AI and ML tools detect patterns humans may miss. They help security teams identify threats earlier, reduce false positives, and automate threat response. Financial institutions should integrate AI-driven tools to complement traditional defenses.
Secure data encryption methods
Encryption is non-negotiable in financial cybersecurity. Use strong encryption standards like AES-256. Store encryption keys securely and rotate them regularly. Ensure all backups are also encrypted.
Ensure cloud security
Cloud services bring scalability and efficiency, but they must be configured securely. Apply the shared responsibility model. Enable logging, enforce least privilege access, and monitor for misconfigurations. Consider cloud-native tools for continuous compliance checks.
Building a culture of cybersecurity awareness in financial institutions
Employee training and awareness programs
Employees are your first line of defense. One of the most essential cybersecurity best practices includes offering regular, role-based training for identifying phishing attempts, securing credentials, and following internal protocols. Make training mandatory.
Phishing and social engineering prevention
Phishing remains one of the most common attack methods. Simulate attacks to test readiness. Train staff to verify unusual requests, especially those involving wire transfers, password resets, or system access.
Conclusion: Strengthening financial cybersecurity
The financial industry’s digital transformation won’t slow down. Cyber threats will continue to evolve — and so must your defenses. From internal systems to external vendors, financial institutions need a layered approach built on clear controls, smart tools, and trusted frameworks.
HITRUST helps you build that foundation. Through the HITRUST framework and assessments, you can align with regulations, evaluate vendors effectively, and demonstrate compliance with confidence. Use it to create a resilient, secure environment that grows with your business and helps you follow cybersecurity best practices.
Cybersecurity Best Practices in the Financial Sector: Protecting Data and Mitigating Risk Cybersecurity Best Practices in the Financial Sector: Protecting Data and Mitigating Risk
Apr 30, 2025
Organizations are looking for trustworthy, scalable, and efficient ways to manage risk as the threat landscape evolves and expectations for data protection increase. HITRUST is often at the center of that conversation, but it’s often misunderstood.
It’s time to bust some of the most common myths to understand more about HITRUST and how it’s setting the bar for security assurance.
Myth: HITRUST is difficult.
Fact: Robust and effective security is difficult. We show you how to do it well.
Cyber threats aren’t getting any simpler, and neither are regulatory demands. But is HITRUST difficult? Not really.
HITRUST makes complex security easier to manage by offering prescriptive, risk-based guidance aligned with widely adopted frameworks and regulations. Our structured approach, integrated controls, and centralized system take the guesswork out of implementation so that you can spend less time worrying and more time protecting what matters.
Myth: HITRUST is costly.
Fact: Robust and effective security can be expensive. We help you do it efficiently.
Security isn’t an area where you want to cut corners. But that doesn’t mean it has to break your budget. So, is HITRUST costly?
HITRUST is a force multiplier to security spends. In other words, HITRUST costs represent a small investment that significantly maximizes the impact and return of an organization’s overall security investments. We ensure your security resources are strategically focused so that you’re investing only where it truly matters.
We provide flexible security certification options to meet organizations where they are. We offer scalable solutions and efficient pathways to make the certification process cost-effective. For instance, the HITRUST Shared Responsibility and Inheritance Program enables organizations to inherit up to 85% of requirements in a HITRUST assessment, saving time, effort, and money. HITRUST assessments ensure the completeness and effectiveness of controls while avoiding duplication and unnecessary implementations.
Myth: HITRUST is only for healthcare.
Fact: HITRUST started in healthcare, but now we’re trusted across industries.
HITRUST was originally developed to address the rigorous demands of HIPAA and the healthcare industry. Today, our framework has evolved into a powerful, industry-agnostic solution for managing risk. HITRUST supports a diverse range of sectors, from financial services and manufacturing to IT, government, and business services.
In 2024, the top industries with HITRUST certifications were
- Information Technology – 37.3%
- Healthcare – 25.9%
- Business Services – 19.1%
Organizations across every industry are choosing HITRUST to demonstrate security, compliance, and trust.
Myth: HITRUST is inflexible.
Fact: We used to offer one comprehensive assessment. Now, we provide a broad, tailorable portfolio.
Security isn’t one-size-fits-all, and neither is HITRUST. Gone are the days when HITRUST offered just one rigorous assessment. Our portfolio now includes three scalable core security certification options and two AI assessments.
- e1 (essentials) – e1 focuses on critical cybersecurity controls and can be completed in less than three months.
- i1 (intermediate) – i1 is designed for modern, moderate-risk environments and serves as the ideal bridge between the e1 and the r2.
- r2 (rigorous) – r2 is the most comprehensive assessment serving the highest assurance needs.
- AI Security Certification – This certification validates the security of AI systems, ideally for AI developers and deployers.
- AI Risk Management Assessment – This assessment is designed for AI users and producers seeking to evaluate their AI risk management practices.
The three core security assessments (e1, i1, r2) are built on the universal HITRUST framework, which means you can reuse your previous work to pursue another HITRUST certification.
Myth: HITRUST is only for large enterprises.
Fact: Large organizations were our early adopters. HITRUST is built for companies of all sizes.
Startups, Small and Medium-sized Businesses (SMBs), and growing tech companies are increasingly turning to HITRUST to meet customer demands and build credibility. The introduction of the e1 certification in 2023 has made it easier for smaller or low-risk organizations to achieve and demonstrate strong security postures without the burden of excessive complexity. In 2024, e1 was over 51% of all HITRUST assessments sold, proving that security assurance is no longer only reserved for big corporations and Fortune 500 companies.
Final thoughts: Don’t let misconceptions hold you back
Doing security right is a must. HITRUST offers a proven, scalable, and efficient path to risk management that meets the needs of today’s dynamic business environment and gives you the confidence to move forward securely.
Talk to us today and learn how HITRUST can help you.