Transforming Compliance and Revolutionizing Cybersecurity | A HITRUST Collaborate 2024 Conversation with Ryan T. Patrick | On Location Coverage with Sean Martin

ITSPmagazine Podcasts

Guests: Ryan T. Patrick, Vice President of Adoption, HITRUST

On LinkedIn | https://www.linkedin.com/in/ryan-patrick-3699117a/

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Hosts:

Sean Martin, Co-Founder at ITSPmagazine [@ITSPmagazine] and Host of Redefining CyberSecurity Podcast [@RedefiningCyber]

On ITSPmagazine | https://www.itspmagazine.com/sean-martin

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Episode Notes

In On Location Podcast episode, Sean Martin had a recap conversation with Ryan T. Patrick, engaging about the pivotal topics surrounding HITRUST and its Collaborate Conference. Ryan Patrick, Director of Corporate Audit and Compliance Operations at HITRUST, provided insightful commentary on HITRUST's mission and its recent initiatives to strengthen cybersecurity and compliance across various sectors. Throughout the episode, Ryan emphasized the significance of HITRUST's annual event, Collaborate. The conference serves as a central hub for customers, assessors, partners, auditors, security, and privacy professionals to share insights and build relationships.

One key discussion topic was the evolving concept of continuous assurance. Ryan highlighted how HITRUST is striving to transform annual assessments into a continuous process, enabling organizations to better manage and understand their security posture throughout the year. This shift aims to make security and compliance efforts more proactive and less burdensome.

Sean and Ryan also touched on the important role of HITRUST's Results Distribution System (RDS). This innovative system allows organizations to receive structured assessment results, which can be integrated seamlessly into GRC platforms like ServiceNow. By utilizing RDS, companies can more effectively compare vendor assessments and manage risk in a streamlined manner.

Another significant highlight from the conference was the announcement of HITRUST's first AI security certification. Set to launch in December, this certification will provide a comprehensive framework for securing AI technologies. Ryan explained that this initiative addresses the rising concerns around AI security by focusing on the controls needed to safeguard AI deployments. In addition, the certification will ensure that the underlying infrastructure supporting AI meets high-security standards.

Cyber insurance was another critical topic discussed. HITRUST's partnership with leading insurers has led to the creation of a cyber insurance product tailored for HITRUST-certified organizations. This product offers a 25% premium reduction for those who achieve HITRUST certification, potentially leading to lower premiums and higher coverage limits. Ryan noted that the product is designed to reward organizations that have demonstrated robust cybersecurity practices through their HITRUST certification.

The conversation wrapped up with a mention of HITRUST's impressive Trust Report statistics. According to Ryan, less than 1% of HITRUST-certified organizations experienced a security breach in the past two years, compared to over 50% of non-certified entities. This stark difference underscores the effectiveness of HITRUST's rigorous assessment and certification process in enhancing organizational security. Ryan’s insights during this episode illuminate the critical role HITRUST plays in advancing cybersecurity and compliance.

The initiatives discussed not only demonstrate HITRUST's commitment to innovation but also highlight practical steps organizations can take to fortify their security posture and achieve greater assurance in an increasingly interconnected world. This collaborative spirit and dedication to continuous improvement continue to set HITRUST apart as a leader in the field.

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This Episode’s Sponsors

HITRUST: https://itspm.ag/itsphitweb

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Follow our HITRUST Collaborate 2024 coverage: https://www.itspmagazine.com/hitrust-collaborate-2024-information-risk-management-and-compliance-event-coverage-frisco-texas

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Resources

Learn more about HITRUST Collaborate 2024 and register for the conference: https://itspm.ag/hitrusmxay

Learn more about and hear more stories from HITRUST: https://www.itspmagazine.com/directory/hitrust

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