Grant Elliot, Founder & CEO, Ostendio
With a significant rise in multifaceted healthcare operations, an increasing number of health firms are shifting to the cloud and other smart solutions for achieving operational efficiency. Today, most health care organizations are burdened by various intricate activities such as maintaining patient records and secure data sharing apart from fulfilling medical duties. Hospitals are required to seek resourceful solutions to store all their valuable patient-related data and financial records. However, one of the biggest challenges faced by small and medium patient care firms is attaining an effective compliance solution to stay acquiescent with industry regulations—HIPAA, PCI, HITRUST and FDA. To fill this void, Ostendio, a provider of information security and risk management solutions, offers a multi-functional platform to healthcare organizations for delivering enhanced data security, risk management and compliance solutions. “Our solution helps digital health companies demonstrate compliance with health systems and improves security and risk management in a pragmatic way,” says Grant Elliot, founder and CEO, Ostendio.
The Arlington, VA based company offers a cloud-based compliance management platform that delivers a simple, cost-effective way for medical firms to demonstrate information security compliance and meet industry standards. Ostendio’s My Virtual Compliance Manager (MyVCM) solution makes it easy for organizations to customize and maintain an effective compliance program. The MyVCM solution offers a range of policy tools and templates that can be tailored to quickly meet the compliance and security requirements. Besides, MyVCM’s high level control audit is designed to swiftly identify major security gaps in a company’s security and compliance program.
In addition, the MyVCM document management module helps maintain a comprehensive document that tracks new policy changes and stores all the previous policies for future estimation. MyVCM also supports a training module to enable employees to understand and review company policies. MyVCM assists medical centers to manage risk factors by monitoring vendor risk
management and compliance status in real time. “MyVCM helps in expanding the culture of compliance from a single employee to an entire organization,” explains Elliot.
With a vision to augment digital health care operations, Ostendio has been successful in providing intelligent solutions to solve risk and compliance threats faced by many organizations. For Instance, mProve Health, providing mobile technology services to the life sciences, had formerly submitted a proposal to a national Contract Research Organization (CRO) for helping them select and enlist clinical trial candidates. However, the mProve team were concerned that their activities were not sufficient to match security and compliance standards required by their prospective client. “mProve Health required a way to recover their approach to risk management and compliance, and better showcase their efforts which our solutions provided,” says Elliot. mProve lacked an effective way to demonstrate the policies they had already implemented owing to inadequate maintenance of information. After setting up Ostendio’s MyVCM Platform, mProve was able to manage and exhibit adherence to regulatory requirements and are now actively implementing their clinical trial selection tool for the CRO.
Ostendio, with its distinct expertise in compliance management, handles all aspects of information administration and auditing for healthcare organizations. One of their unique offerings—MyVCM Trust Network helps digital health firms to securely share compliance information with the stakeholders. The MyVCM Trust Network can be leveraged by companies to educate employees on their security awareness, real-time vendor compliance activity and incessantly monitor industry standards.
Our solution helps innovate digital health companies
demonstrate compliance to health regulatory bodies by
providing a realistic way to reduce risks and improve security
The company is primarily focused on offering affordable compliance management solutions to the small and medium health care firms who lack resources to meet several regulatory obligations. Moving ahead, the company plans to enhance their MyVCM solution and make it more efficient and user-friendly for deployment in larger organizations.