HITRUST is a cybersecurity framework created in collaboration with healthcare companies, technology organizations, and information security groups, and designed to help companies manage data, information risk, and compliance. Originally formed in 2007 as the Health Information Alliance, it later rebranded as The HITRUST Alliance.
Initially, HITRUST Certification was developed by and for the healthcare sector. As both the certification’s reputation and reach grew, it is now widely acknowledged as the most comprehensive security framework and has become increasingly popular in other industries requiring effective data management, information risk management, and compliance.
What are the benefits of becoming HITRUST CSF Certified
For businesses in every sector, being HITRUST CSF certified shows their customers that they can have confidence in them and their ability to manage data securely and compliantly. This credibility level is the true differentiator — enabling businesses to execute new contracts and protect existing relationships, instead of being left out in the cold.
According to IBM security, the average cost of a data breach is $3.92 million, and 46% of breached organizations suffer damage to brand value and reputation. Working with a HITRUST CSF Certified business reduces an organization’s cyber risk today and in the future.
Additionally, in a Ponemon Institute Report, “The Aftermath of a Data Breach: Consumer Sentiment,” 86% of companies were unlikely to do business with an organization that suffered a data breach involving credit card data.
HITRUST CSF Certification
HITRUST CSF Certification has become the benchmark for data protection standards in many industries. It is more widely adopted in industries that handle sensitive data, helping organizations, business associates, and suppliers manage IT risk and compliance with IT security regulations.
Achieving HITRUST CSF Certification indicates that information security and privacy are a priority for an organization and prove to its business associates and partners that it meets the certification framework’s high-security standards.
Additionally, certification can be used to reassure partners that they are compliant and up-to-date with industry-specific regulations such as HIPAA, NIST, PCI and over 40 other frameworks that a business may be obligated to consider when choosing companies to work with.
The HITRUST Alliance uses the HITRUST Approach program to guide and educate companies to effectively manage data, information risk, and compliance in a complex and ever-changing environment.
HITRUST approach to data security
When an organization is developing an information risk and compliance program, they have several considerations:
- Measuring the effectiveness of implementation
- Sharing control responsibilities with service providers
- Integrating information risk and compliance controls into an assessment tool
HITRUST’s understanding of information risk management, compliance, and the challenges of assembling and maintaining various programs has resulted in an integrated approach with the elements aligned, maintained, and comprehensive to support an organization’s risk management and compliance.
The components of the HITRUST approach include:
- HITRUST CSF – privacy and security controls framework
- HITRUST Threat Catalogue – anticipated threats mapped to specific CSF controls
- HITRUST MyCSF – a management platform for assessment and corrective action
- HITRUST Assessment XChange – automated sharing of assurances between organizations
- HITRUST CSF Assurance Program – provides assurances to stakeholders
- HITRUST Shared Responsibility Program – customer and cloud service provider requirements
- HITRUST Third Party Assurance Program – third-party risk management
The HITRUST Approach, in many instances, removes the need for an organization to subject itself to multiple risk assessments and accompanying reports. It is based on the most up-to-date framework and incorporates international, federal, and state regulations regarding security and privacy.
80% of the top cloud service providers use HITRUST CSF, as do 75% of the Fortune 20 companies. From a cost perspective, HITRUST CSF Certification can save you money by reducing the amount you pay for cybersecurity insurance.
The majority of US Healthcare providers view the HITRUST CSF control framework as extremely beneficial. 81% of hospitals and 83% of U.S. Health plans utilize HITRUST CSF. In a 2018 survey by the Healthcare Information Management Systems Society (HIMSS), HITRUST CSF was the most widely adopted control framework in the healthcare industry.
For assessing third-party risk, the HITRUST CSF Assurance program is the most widely adopted.
A final benefit of HITRUST CSF certification is that it fully incorporates other common risk management frameworks. The National Industry of Technology and Standards (NIST) is used primarily by U.S. Federal Agencies and the public and private sector, and the Organisation for International Standards (ISO), which non-US organizations use.
There is no need to certify separately for these and over 40 other frameworks, including HIPAA, if you opt for HITRUST CSF Certification.
If your business relies on data security, manages risk, or uses cloud server providers, then HITRUST CSF Certification is worth considering.
Finally, if your customers rely on you to be a data-secure business and you are not being certified — this could cost you contracts. Therefore, certification is the way to go.
As a translation and localization company that takes its customer’s data security seriously, HITRUST CSF certification is essential to our business, since we work with organizations whose commitment to privacy, security, and risk management is paramount.
Our healthcare, financial services, and insurance clients have the confidence that we take their data security as seriously as they do, and they can rest easy knowing that we adhere to all of our legal and contractual requirements around protected information and risk mitigation.
We strive to keep our customers focused on achieving their business goals, and spending less time evaluating our organization’s processes and policies aimed at protecting not only their data but their reputations as well.
We’d love to discuss your specific needed. Contact us today.