Consulting Magazine - November 2017

Clearwater Compliance is a leading provider of hospital and health system compliance and cybersecurity management solutions. Exclusively endorsed by the American Hospital Association, Clearwater has worked with hospitals and health systems, including over 40 of the top Integrated Delivery Networks in the country, Fortune 100 organizations and federal government institutions. “Hospital C-suites and Boards, today, lack the knowledge and experience to understand the scope and severity of cyber risk challenges,” says CEO Bob Chaput. “Hospital leaders place a high premium on quality of care, patient safety and financial stability— yet those priorities are jeopardized when their organizations take a fragmented approach to data security.” Consulting caught up with Chaput to discuss Clearwater Compliance’s financial performance and revenue growth over the last three years.

Consulting: What were the main factors that contributed to your firm’s exceptional growth?

Chaput: Breaches and cyber inci-
dents in the healthcare sector con-
tinue to rise, despite the increases
in spending and staffing. Clearwa-
ter offers a solution to help health-
care leaders leap toward a new,
strategic approach, utilizing an
adaptable framework for establish-
ing and maturing processes to ad-
dress evolving threats to hospitals.

Consulting: How is this year shaping up for your firm? Chaput: Clearwater experienced unprecedented growth with double digit new client wins, expanded contracts. New endorsements by state hospital associations in Georgia and Montana add more than 200 hospitals. New partnerships include Intel and the National Institute of Standards and Technology and being selected to join the NIST National Cybersecurity Excellence Partnership.

Consulting: Where do you see the most opportunities? Chaput: The healthcare industry will continue to suffer from damaging cyber attacks that pose direct patient safety risks. Board members and Executive Leadership are starting to understand that cyber risks and patient safety are directly related. Clearwater offers comprehensive solutions to look at the expanded ecosystem of the healthcare organization.

Consulting: What would you say are your firm’s biggest challenges in 2018?

Chaput: Healthcare organiza-
tions tout a mission for quality and
improved patient outcomes, and
therefore ROI must be perceived
as directly causational to achiev-
ing it. Investing in information se-
curity may not seem directly tied
to patient outcomes, and is there-
fore often stepped over for other
investment options with a more
obvious connection.

Consulting: What does being named one of Consulting’s Fastest Growing Firms mean to your firm, your employees and your clients? Chaput: Inclusion in Consulting Magazine’s Fastest Growing Firms is a significant milestone for all Clearwater colleagues and speaks to how Clearwater’s cybersecurity solutions are creating value for hospital leaders. With the threat landscape becoming more complex than ever for hospitals, Clearwater is experiencing unprecedented growth with double digit new client wins.