Creating A Robust Governance And Risk Management Framework

Posted by Tonni Islam

Governance, Risk Management and Compliance (GRC) is an important aspect of operating any healthcare organization. Additionally, Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) must master this in order to help their clients at the highest level possible.

While the term GRC has been around for several decades, what separates successful enterprises from those that fall behind is maintaining all three tenets equally.

To integrate these into your healthcare organization or white label agency, continue reading. We’ll discuss powerful GRC framework guidelines you can utilize to protect your patients, your data, and your organization.

What Is A Governance Risk And Compliance Framework?

A GRC framework is a way to create a model around your approach to government risk and compliance in your healthcare organization. This framework provides a structure that you need to support the efforts toward creating better safety and privacy.

When setting goals, you can use this framework to establish where you are along that journey. You can also identify challenges that may grow and address them in a timely fashion. More specifically, a framework is a specific set of policies that details your strategies and aligns the specifications, risk controls, governance practices, and more.

Security Versus Compliance

Before we explore strategies for choosing a framework, let’s clarify compliance versus security. The two concepts are interconnected yet may be implemented for slightly different reasons.

Traditionally, compliance refers to following the law, such as HIPAA regulations. Security has usually referred to protecting business data.

In healthcare, security and compliance work hand in hand. Aligning your organization with security best practices and compliance best practices often involves similar technology and protocols.

For instance, updating your IT system with a new VPN or encryption program may be considered compliance or security — or both — depending on the framework in question

How To Choose A Framework: GRC Strategies To Know

Get Approval From Executives

Stakeholders and executives should sign off on the framework during the planning stages to create full alignment.

Identity Factors

Your standards and goals should align across various departments including end user experience, product development, reputation, finances and more.

Strategy Alignment

Ultimately your framework for GRC should cover all aspects of company, workforce, and patient privacy compliance. GRC software is incredibly important in implementing such a solution.

Get State-Of-The-Art GRC Software Today

You need a way to integrate and streamline your GRC process. With ComplyAssistant, you can scale and standardize all of your compliance strategies — from monitoring to reporting to assessment and response.

We have the GRC audit software and additional tools necessary to protect your firm and your clients, ensure that you’re identifying the highest risk areas, and manage risk appropriately. Contact us today to schedule a free demo.

Risk Management