retina3P™ framework addresses entire third-party relationship and risk management lifecycle. retina3P platform automates risk profiling, risk identification, mitigation management, communications and compliance functions in a collaborative, community-driven ecosystem.
PANAMA CITY, Fla.— February 27, 2018 –Immersive, a leader in healthcare data management advisory services and solutions, today introduced retina3P, a comprehensive solutions portfolio comprising a tactical framework, cloud-based platform and expert services purpose-built for healthcare and life sciences third-party risk management. retina3P builds upon Immersive’s prior work in business associate risk management in response to client recognition that their sensitive data footprint, and therefore their third-party risk footprint, is larger than their business associate relationships alone.
“While ePHI security and privacy concerns are often the starting points for our clients’ efforts in third-party risk management, they are quick to appreciate that their sensitive information sharing practices extend well beyond their business associate relationships. Because the retina3P framework addresses nine distinct domains of risk, not just IT risk, we are able to quickly identify the domains and third-party business practices that matter most to our clients, determine if and how these risks are related, and then prioritize sensible, scalable, and measureable risk management processes to all sensitive relationships,” stated Immersive co-founder and principal, Stephanie Crabb. “Our data-driven, business-sensitive approaches continue to distinguish Immersive from its industry peers that orient their solutions to security and privacy regulatory compliance adherence exclusively.”
The retina3P framework:
- addresses the entire third-party relationship and risk management lifecycle, from due diligence to termination
- provides a schema and toolkit for establishing third-party risk management strategy, identifying and prioritizing third-party relationships of interest, monitoring and measuring program effectiveness, and maturing program scope
The retina3P platform:
- establishes and documents standardized third-party business profiles maintained by both Immersive’s analyst team and via voluntary self-management by third parties themselves
- operationalizes continuous risk identification and management via automated communications, customized inspection and audit, and Immersive analyst-driven activities
- creates a community-driven ecosystem where clients collaborate to create standards and prioritize inspection and audit activities, where third parties contribute voluntarily, and where shared communications are enabled
The retina3P services portfolio offers:
- current state risk management program assessments, gap analysis and roadmap development
- structured, project-oriented services to address program development broadly
- discreet framework component implementation
- turnkey, fully outsourced, managed third-party risk management services in single-year or multi-year programs
- customized, co-sourced third-party risk management services
“As an organization building a program from scratch, Immersive’s retina3P framework has provided the structure for us to organize the work, create the plan, communicate the plan to our critical business unit shareholders and move forward methodically,” stated Scot Eibel, JD, chief compliance officer for U.S. Renal Care, the nation’s third largest provider of renal care services. “By defining the data and information that mattered to us most from the beginning, not just ePHI, we were able to approach our 10,000+ third-party inventory in one evolution, culling it down to a high-confidence, prioritized business associate and sensitive third-party inventory. Immersive is now executing a continuous monitoring plan aligned with our enterprise risk management requirements. In less than six months, we have already identified and mitigated risk that we had no visibility of prior to starting down this path.”
Immersive is a provider of exceptional healthcare data solutions harmonized under four service pillars: data governance, data management, data analytics and data protection. We pride ourselves on a common-sense, resource-sensitive approach, with a healthy dose of ingenuity to achieve better outcomes for our clients. Our consultants have served on the front lines as well as in the executive suite; we have walked the hallways of healthcare in your shoes for decades. Client vision sets the compass for our work. Immersive was founded on the belief that our industry can and will achieve extraordinary advances in clinical care, healthcare operations and healthcare financing when we apply the full potential of the data that we have at our fingertips. We are profoundly respectful of the power and the value of today’s healthcare data and we are relentless about protecting it. For more information, please visit www.immersivellc.com.