Change Healthcare has launched a new security tool called ‘Bring Your Own Key’ (BYOK) for its cloud-based analytics suite. The tool enables providers, payers, and hospital organizations to create, update, and revoke encryption keys on demand without involving the vendor. It gives customers full control over their security needs, including auditing and monitoring. The tool can also assist with identity management and helps to control access to networks. BYOK has been added to platforms by Google, Microsoft, Amazon, and others in recent years.
Third-party risk management is crucial for businesses as they increasingly rely on outsourced services, making them vulnerable to data breaches and compliance violations. According to