Lockpath Partners with Kinney Services to Empower Stronger Third-Party Risk Management
April 2018 by Marc Jacob
Lockpath, a provider of integrated risk management solutions, announced a new partnership with Kinney Services, a provider screening company. The partnership aims to ease the compliance and risk management burden of exclusions and sanctions list screening, especially in the healthcare industry, while strengthening third-party risk management programs.
This partnership will include an integration of Kinney Services’ Kchecks, an excluded provider screening software solution, within Lockpath’s Keylight Platform, a governance, risk management and compliance (GRC) and integrated risk management solution. With the combination of Kchecks’ efficient screening and Keylight’s reporting and context into the organization’s overall compliance program and risk posture, organizations will be able to ensure compliance and avoid penalties. The integration also allows for better management of the risks associated with doing business with sanctioned entities, including privacy violations, fraud, waste, and abuse.
Organizations will benefit from Kcheck’s screening capabilities within the Keylight Platform, as the partnership will enable stronger continuous monitoring of business associates. Customers will be able to combine Kchecks screening matches with existing business associate profiles in Keylight for advanced visibility and context into third-party risk and potential compliance issues.
Kchecks allows users to search federal and state databases at the same time, conducts monthly testing for exclusions, allows for the recording of the action taken on the matches found, and retains the history of the match resolution for use in any federal or state audit. Kchecks includes searches of the following lists:
• The Office of Inspector General’s List of Excluded Individuals/Entities (LEIE).
• The General Services Administration’s System for Award Management (SAM) and Excluded Parties List System (EPLS).
• The Department of the Treasury’s Office of Foreign Assets Control (OFAC) Sanctions List.
• More than 25 various state files.
An integrated approach to risk and compliance management empowers organizations to manage risks of every type, from operations and third parties to information security. The Keylight Platform aggregates data points from all corners of the organization, as well as sources like audit findings, compliance documents and risk assessments. It also bridges departments and business units, so collaboration can occur. With everything connected and integrated in Keylight, an organization can manage its risks more efficiently and effectively.