Longstanding Client Expands Relationship with CynergisTek to Amplify Vendor Security Management
Deep-Rooted Customer Enhances Existing Security Program by Leveraging Leading Cybersecurity Firm’s Managed Service to Assess and Mitigate Vendor and Third-Party Risks
Austin, TX — July 25, 2019 – CynergisTek, Inc. (NYSE AMERICAN: CTEK), a leader in healthcare cybersecurity, privacy, and compliance, today announced that one of its longest-standing customers has expanded its relationship with the company by adding the Vendor Security Management (VSM) program to its existing privacy and security services. The large healthcare system currently contracts with CynergisTek for its Compliance Assist Partner Program (CAPP) and Patient Privacy Monitoring Program, as well as partners with the company to provide security assessments for a variety of its other affiliated locations.
The healthcare system has adopted services to identify vulnerabilities and analyze risk to meet HIPAA requirements and ensure security weaknesses do not go undetected with its many supply chain partners. The organization now has three ongoing managed service partnerships with CynergisTek, including the latest addition of the VSM program for managing third-party risk.
Vendors working with healthcare organizations have accounted for more than 20% of the breaches reported in 2019, and the largest. With the cybersecurity workforce shortage continuing to grow, coupled with budget constraints, organizations are facing the challenge of maintaining an effective security plan. CynergisTek’s VSM program supports organizations’ risk awareness and allows for seamless assessments of third-party vendors. Specifically, this offering monitors and evaluates vendors’ level of risk and compliance and determines how organizations can manage that risk in order to keep third parties accountable and address vendor security gaps.
“The majority of our longstanding customers started out with our Risk Assessment service and then soon after joined our more comprehensive security program and became CAPP members,” said Mac McMillan, CEO and President, CynergisTek. “Recognizing other areas of need, we have added more managed services such as VSM, Managed Security Services, Medical Device Security Management, and Patient Privacy Monitoring Services. We are encouraged to see more of our clients adding these additional services to further strengthen their programs.”
Healthcare faces a daunting task in trying to keep pace with the many risks to information and systems. Additionally, third parties and their subcontractors can represent operational, reputational, financial, and compliance risks. Supply chain partners such as cloud providers, service providers, outsourcers, etc. form a critical component of most healthcare entities business strategy. Understanding and addressing the risk that these valuable business partners represent is critical to success. A proactive life cycle approach to vendor security enables protection of patient information and operations and supports positive supply chain partnerships.
About CynergisTek, Inc,.
CynergisTek is a top-ranked cybersecurity, privacy, and compliance management consulting firm dedicated to serving the healthcare industry. CynergisTek offers specialized services and solutions to help organizations achieve privacy, security, and compliance goals. Since 2004, the company has served as a partner to hundreds of healthcare organizations and is dedicated to supporting and educating the industry by contributing to relevant industry associations. The company has been named in numerous research reports as one of the top firms that provider organizations turn to for privacy and security and won the 2017 Best in KLAS award for Cyber Security Advisory Services.
This release contains certain forward-looking statements relating to the business of CynergisTek that can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “may” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product/service development, long and uncertain sales cycles, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, future capital requirements, competition from other providers, the ability of our vendors to continue supplying the company with equipment, parts, supplies and services at comparable terms and prices and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. CynergisTek is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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