akhil_parasa

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Gateway Community College *

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MISC

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Information Systems

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Apr 3, 2024

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docx

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Parasa Sai Akhil L20582014 Research and Outline of the Risk Management Plan for Week 1's Project Part 1 Health Network, Inc. is an organization committed to promoting community well-being and enhancing quality of life. By integrating a steadfast dedication to excellence into all aspects of the organization, they guarantee that families and individuals are provided with the utmost care and assistance. Here is a comprehensive synopsis of the organization: a. Geographical location: Positioned strategically in the center of New York, Location Health Network, Inc. coordinates and supervises an extensive network of healthcare services. In addition to their strategic central location, they have a pervasive presence in New York through the dispersion of numerous clinics, facilities, and healthcare partners. b. How are we organized? The organization has carefully crafted its structure to maximize collaboration, effectiveness, and efficiency at every level of operation. A harmonious entity is formed at Health Network, Inc. through the collaboration of numerous departments, such as Clinical Services, Administrative Support, Research and Development, Information Technology, Human Resources, Finance, and Marketing. c. What shall we do? They deliver an extensive range of healthcare services that are customized to address the varied requirements of our community. Primary care, specialty care, diagnostic services, rehabilitation therapy, mental health services, and wellness programs are all included in our offerings. d. The following vendors do business with us: Working in tandem with reliable vendors and associates is a fundamental objective of ours in order to provide outstanding care and services. Health Network, Inc. collaborates with industry-leading healthcare providers, such as the following: 1. Medical Equipment Suppliers: Facilitating patient care, treatment, and diagnosis through the provision of cutting-edge medical devices and equipment. 2. Pharmaceutical Companies: Ensuring optimal patient outcomes and medication management through the distribution of pharmaceutical products and medications.

3. Information technology providers are entities that deliver cutting-edge solutions and assistance in the domains of cybersecurity, telemedicine, data analytics, and electronic medical records. 4. Diagnostic imaging companies provide cutting-edge imaging equipment and services to facilitate accurate diagnosis and aid in the development of treatment strategies. 5. Laboratory service providers are responsible for performing extensive laboratory testing and analysis in order to support research, disease detection, and monitoring. 6. Supply chain management partners support operational efficiency and continuity of care by facilitating the procurement and distribution of medical supplies, consumables, and equipment in a seamless manner. Significance and Objectives of the Risk Management Strategy The implementation of a risk management plan within Health Network, Inc. serves a multifaceted and critical function, as it is integral to the success and long-term viability of the organization. The following are the primary justifications for embarking on this endeavor: Safeguarding of Assets and Resources: in order to ensure the protection of Health Network, Inc.'s assets and resources. This includes intangible assets such as data, reputation, and intellectual property, in addition to tangible assets such as structures, equipment, and supplies. By conducting risk identification and employing suitable mitigation strategies, the probability of asset loss or damage can be reduced. Risk management facilitates the proactive identification of potential hazards and vulnerabilities that may result in financial losses or disruptions to operations, thereby mitigating potential losses. We can protect the financial stability and continuity of our organization by mitigating the effects of unfavorable occurrences, including cyber attacks, natural disasters, and regulatory noncompliance, through the evaluation of risks and the implementation of control measures. Ensuring Compliance with Regulations: The healthcare sector is obligated to adhere to an extensive array of regulatory standards and requirements that are designed to safeguard patient confidentiality, uphold data security, and preserve the standard of care. We can ensure compliance with pertinent laws and regulations, including HIPAA, GDPR, and other industry-specific mandates, with the aid of a solid risk management strategy. Adherence to regulations not only mitigates legal and financial vulnerabilities but also bolsters our standing as a reliable healthcare provider. The improvement of decision-making is facilitated by the insights that risk management imparts regarding the possible repercussions of diverse actions and choices. Through the

methodical evaluation of risks and their potential ramifications, the ability to allocate resources, establish investment priorities, and execute strategic initiatives is enhanced. This enables us to maximize the value we provide to our stakeholders and patients, as well as optimize our operations and reduce costs. Safeguarding Stakeholder Interests: In our capacity as a healthcare institution, we bear an obligation to ensure the interests of our patients, employees, shareholders, and the wider community. An effective risk management strategy showcases our dedication to safeguarding the concerns of all stakeholders through the mitigation of hazards and the guarantee of critical service uninterruptedly. By placing safety, security, and resilience as top priorities, we cultivate confidence and trust among our stakeholders, consequently fortifying our relationships and standing. In brief, Health Network, Inc. places significant importance on the risk management plan due to its capacity to safeguard assets, reduce potential losses, ensure regulatory compliance, improve decision-making, and protect the interests of stakeholders. Through methodical risk identification, evaluation, and management, organizations can fortify their adaptability, resilience, and long-term viability amidst the dynamic healthcare environment. The Risk Management Plan's Scope The risk management strategy implemented by Health Network, Inc. is all-encompassing in nature, with the aim of safeguarding assets, data, and operations throughout the entire organization. An outline of the scope, including current assets/systems and locations, is provided below: a. Every location: Health Network, Inc. maintains a presence in various regions of the United States, comprising our corporate headquarters, affiliated clinics, facilities, and healthcare providers. By encompassing all physical locations where our operations are carried out, the risk management plan guarantees uniformity and standardization in our endeavors to mitigate risks. b. The Data Center: Critical IT infrastructure, such as servers, storage systems, and networking equipment, is housed in our data centers. To ensure the accessibility, confidentiality, and integrity of data stored within these facilities, the risk management strategy addresses operational risks such as equipment malfunctions, power disruptions, environmental hazards, and physical security breaches. c. Configuration of Production Servers:

The provision of healthcare services is dependent on production servers, which house databases and applications that are critical for clinical operations, administrative tasks, and patient care. Identified and managed risks associated with server performance, availability, data loss, and unauthorized access are utilized to safeguard sensitive information and minimize service interruptions. d. Business laptops: Employees utilize corporate laptops for a multitude of work-related purposes, such as data access, documentation, and communication. The potential hazards linked to corporate laptops comprise unauthorized access, theft, loss, malware infections, and data intrusions. The risk management strategy encompasses actions to fortify laptops, enforce policies, and educate users regarding optimal device security protocols. e. Mobile Technology: Staff members employ mobile devices, including tablets and smartphones, to carry out clinical duties, access electronic medical records, and communicate while on the move. Data breaches, malware infections, device loss or theft, and unauthorized access to sensitive information are all risks associated with mobile devices. These risks are mitigated via mobile device management solutions, encryption, and user education as outlined in the risk management strategy. f. The HNetExchange HNetExchange is an indispensable platform for the secure exchange of healthcare data among stakeholders, patients, and providers. HNetExchange carries the following risks: data breaches, unauthorized access, issues with data integrity, and compliance violations. Using encryption, access controls, and routine audits, the risk management strategy guarantees the security and integrity of data transmitted via HNetExchange. g. HNetPay is: Our payment processing system, HNetPay, is utilized for invoicing services and financial transactions. HNetPay entails the following risks: fraud, data intrusions, errors in payment processing, and compliance violations. Implementing measures to safeguard payment information, ensure adherence to regulatory standards, and detect anomalies or irregularities in transactional activities are all components of the risk management strategy. h. The HNetConnect HNetConnect serves as the organization's secure platform for both internal and external communication. HNetConnect carries the following risks: unauthorized access, data leakage, threats from malicious software, and compliance violations. Monitoring, access controls,

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