MedStack vs. GRC Companies- What’s the Difference?
Published on: 09/08/22
Making the Right Choice for Your Business
While starting and scaling your business requires maintaining a number of compliance requirements, it can be daunting to know when and where to turn for assistance. The number of consultants, GRC (governance, risk and compliance) companies, task management software solutions and checklist organizations is growing all the time.
Whether you’re working towards meeting HIPAA, SOC 2, or ISO 27001 requirements, it can be difficult to discern the difference between all of the services available.
MedStack is committed to helping our customers better understand the landscape, and through this page, we aim to help you decide whether you need a checklist company or MedStack.
Don’t Be Mislead by Marketing Tactics
If you’ve been searching for assistance with meeting various security and privacy compliance requirements, it’s likely you’ve come across consulting or checklist companies that make claims such as “Be SOC 2 audit ready in 1 month”.
While this is a true statement, the process of an audit takes significant time, effort and expertise, and you may not pass the audit quickly or easily.
When companies say compliance is easy, they’re telling the truth – it can be. But it’s only easy if you’ve got the resources, expertise, time, and budget to manage multiple security requirements yourself.
For many businesses, this becomes an expensive trap to fall into.
Understanding and Maintaining Compliance
Data privacy and security compliance is designed to help your business manage safety risks relating to protected health information, and to keep those risks within an acceptable level.
Part of maintaining compliance involves performing a number of internal audits, so that you can claim a certain level of compliance relative to the standards of the regions your app runs in.
These internal audits can take substantial amounts of time and energy to do manually. They can often require specialized information and expertise, which your internal team may or may not be able to readily access on your own.
After this point, external audits need to be carried out by a registered third-party certification body, so that your compliance claims can be verified.
This is where other companies can get customers in the door with promises of low-cost compliance solutions.
Unfortunately, many clients find that once they’ve signed up for this ‘low-cost’ service, they’re required to upgrade to a more expensive service or consulting engagement.
This is because there are additional efforts required to meet healthcare laws, SOC 2, or ISO 27001 audits beyond simply being ready to start the audits themselves.
In some cases, this results in companies being forced to look elsewhere for assistance. We often speak with companies who come to us with “sticker shock”, after their internal teams discover that they don’t have the time, knowledge and expertise to carry out the checklist items provided.
Meeting Compliance Standards
Checklist models only function on the assumption that you have a large team at your disposal, from which you can access the expertise necessary to take action and accomplish the work required.
This could involve a number of different factors including, but not limited to:
- Designing security measures
- Implementing security measures
- Putting safeguards in place to prevent data leaks
- Testing to ensure the effectiveness of new safeguards
- Creating new policies and procedures
- Implementing and tracking new policies and procedures
- Defending new policies and procedures from scrutiny
The MedStack Difference
At our core, MedStack isn’t a company that just advises or makes recommendations, and then leaves a set of instructions up for interpretation.
We hard-code the necessary security features directly into our platform to take away the guesswork and map these directly to fully-inheritable policies – all optimized through a history of learning from our customers, their experiences, and feedback from healthcare enterprises across multiple geographies. So when it comes time to do an audit….
Providing Guidance When Needed
The reality is that there will always be more questions to answer and unknowns to address. That’s okay!
We’re always happy to join our clients on calls with their customers and partners, to explain how the MedStack platform works, how it aligns to policies, and where it’s been accepted by others in healthcare.
More than that, we understand that there are some things that would benefit from additional consulting and hands-on guidance above our platform layer – particularly for those companies with policies that have an aspect of GDPR.
Whenever these scenarios arise and our customers require additional services, we’ll always happily refer them to one of our partners who can help.
MedStack Specializes in Healthcare Compliance
Whether it’s SOC 2, ISO 27001, HIPAA or Other Healthcare Regulations– We Can Help
Audits are just part of the equation for achieving data security and privacy compliance. We specialize in helping businesses save time and money ensuring all the necessary privacy and security compliance requirements are met and maintained. We are the only end-to-end compliance provider that specializes in healthcare.
With a skilled team of experts on your side, MedStack can reduce the stress and frustration that many businesses face as they attempt to grow within the healthcare space.
We’re a continuous solution that provides long-term protection and assistance for all of our customers.
Stop wasting precious resources managing your compliance needs, instead of focusing on your product. MedStack can put your business on the fast track to growth and take your application from zero to healthcare hero.
To learn more about Medstack's product, book a demo today!