Risk Assessment and Business Continuity

Assuring uninterrupted services to our clients

Effective risk management is important to manage unforeseen problems and plan a risk mitigation strategy for running smooth operations to achieve business goals. Tranquilmoney’s risk assessment process identifies operational, financial, legal and technological risks associated with intrusion, system failure, and errors.

If you are our PharmTracker™ or PracticeTracker™ user, be assured that you will remain unaffected by potential system failures or technological issues. Whether you have entrusted us with your medical billing or AR Follow ups, we ensure continuous and secured services throughout.

Your Benefits

  • Our robust risk assessment procedures and business continuity plans ensure that you receive unhindered services and access to software.
  • Our documented procedures allow our teams of thoroughly trained staff to not compromise with the quality of deliverables during a crisis.
  • We measure every identified vulnerability in terms of different dimensions. This avoids any leakages, loopholes or infringement of mutually agreed upon terms of agreement.
Your Benefits

Risk Assessment

Our management performs risk assessment during the design, implementation, or any update (semi-annually) of the control objectives and related controls. As part of its risk assessment, management identifies the threats and vulnerabilities relevant to the security of our business operations. The following types of risks are identified in our risk assessment process:

  • Operational risks associated with information systems, manual processes and external systems
  • Financial and legal risks associated with market and organizational changes, regulatory costs or other negligent action
  • Technological risks associated with intrusion, system failure and errors

For every identified vulnerability, we then consider:

  • The likelihood of impact (i.e., the likelihood of the vulnerability being exploited), and
  • The severity of impact (i.e., how damaging an exploitation of the vulnerability could be).

Next, the severity of risks posed by each identified vulnerability is broadly quantified and rated. This rating allows the design and implementation of controls to mitigate the most significant risks to the security of our services. The management ensures that the risk mitigation plans are sound enough to ensure security of its operations.

Electronic Protected Health Information (ePHI)

Technology Risk mitigation

Tranquilmoney's servers are hosted and managed by Rackspace out of its facilities at Texas City. We have access to Rackspace's state of the art business continuity infrastructure. In addition, there are back-up servers at the back office in India. In the eventuality that the servers at Rackspace are down, the servers in India takes over and our clients face no down-time.

Our company has redundancies built using multiple service providers for bandwidth and communication links. Our business associate relationships with multiple organizations in India ensure that work can be relocated at the back office in India in the event of natural disasters such as flood or fire. There are well-documented business continuity plans in case of such eventualities and the concerned people are well-trained to act in such circumstances.

Business Continuity and Disaster Recovery

We have classified information systems, applications and data groups according to their critical and sensitive nature. There are procedures to help ensure that data and systems can be restored in the event of a disaster and that business operations can continue in an emergency mode. In addition, we have a documented procedure to perform periodic testing of all contingency plan procedures.

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