The Situation of the Client
A healthcare suicide prevention organization with five locations in the United States faced the challenge of ensuring robust cybersecurity and privacy compliance. As an SMB, they had limited resources and lacked the expertise to navigate the complex landscape of regulations, including the looming state regulations and the Health Insurance Portability and Accountability Act (HIPAA). Attempting to handle cybersecurity and privacy compliance with technical staff internally would have exposed them to significant risks, including potential legal liabilities, fines, loss of business, reputational damage, and personal board and executive liability.
What Did Omnistruct Do to Solve the Challenge
Recognizing the organization’s limitations and the critical need for expert guidance, Omnistruct stepped in as a trusted partner to provide Governance as a Service (GaaS) solutions tailored to the healthcare industry. They worked closely with the organization’s IT director and stakeholders to assess their specific cybersecurity and privacy requirements. Drawing on their deep expertise and knowledge of regulations such as California State Laws, NIST, and HIPAA, Omnistruct developed a comprehensive cybersecurity and privacy compliance program designed to meet the organization’s unique needs transferring risk as cyber risk posture matured.
The Results We Achieved
By partnering with Omnistruct and leveraging their GaaS solutions, the healthcare suicide prevention organization achieved substantial cost savings. Trying to handle cybersecurity and privacy compliance internally would have incurred significant expenses, including legal consultation ($25,000 minimum), hiring a CISO ($200,000 salary plus benefits, totaling $450,000-$500,000), hiring a technician ($80,000 salary plus benefits, totaling $175,000-$200,000), GRC portal ($50,000), automated external annual pentest and quarterly vulnerability scans ($25,000), policy updates, recommendations, supply chain attestation support (full external audit, $30,000 each), and independent third-party artifact verification ($200/hr). By outsourcing to Omnistruct, they avoided these costs and gained access to a team of experts at a fraction of the price.
Enhanced Compliance and Maturity.
Through Omnistruct’s guidance, the healthcare organization embarked on a phased approach to achieve higher levels of cybersecurity and privacy compliance. Omnistruct implemented a comprehensive program based on industry best practices and regulations, with Privacy policies in mind. The organization is progressing through the levels of cybersecurity and privacy capabilities, continuously maturing their cyber risk management practices. This ongoing commitment to compliance ensured adherence to requirements and mitigated the risk of regulatory fines (potentially exceeding $1,000,000+).
Strengthened Cyber Security and Privacy Controls.
Omnistruct’s expertise enabled the organization to establish and strengthen security and privacy controls. They helped implement measures such as regular external pentesting, quarterly vulnerability scans, policy updates, and supply chain attestation support. With a focus on protecting sensitive patient data, Omnistruct ensured the organization had robust security measures, reducing the cyber risk of data breaches and safeguarding the privacy of patient information.
Reduced Legal and Financial Risks.
By relying on Omnistruct’s GaaS solutions, the healthcare organization significantly reduced its legal and financial risks. The potential costs of regulatory fines, legal retribution from clients (potentially exceeding $10,000,000+), loss of business, reputational damage, and personal, board, and executive liability were mitigated through Omnistruct’s expertise and proactive approach. Additionally, the organization transferred cyber risk through the engagement of Omnistruct, shifting the liability.
The Results We Achieved
By partnering with Omnistruct for Governance as a Service (GaaS) solutions, the healthcare suicide prevention organization effectively addressed the challenges of cybersecurity and privacy compliance. With limited resources and the complexity of regulations like HIPAA, attempting to handle compliance internally would have exposed the organization to significant risks and financial burdens.
Omnistruct’s expertise, tailored solutions, and cost-effective approach enabled the organization to achieve enhanced compliance, strengthened security and privacy controls, and substantial cost savings compared to in-house efforts. By entrusting their cybersecurity and privacy needs to Omnistruct, the healthcare organization is successfully navigating the ever-evolving regulatory landscape, ensuring the protection of sensitive patient data, minimizing legal and financial risks, and transferring their cyber risk liability through a friendly utility-based payment model lowering the cost barrier to entry of full-time equivalent employees and the typical pay upfront consulting model.