We work with you to customize product risk dashboards that capture, quantify, and prioritize qualitative metrics, enabling you to make quick and accurate decisions. Get the Medcrypt advantage as we show you how to tie your data to dollar-based risk metrics, impacting your bottom line.Contact us >
Our customized product risk dashboards enable you to capture, quantify, and prioritize the qualitative metrics that matter to you.See case study >
Our product risk dashboards use mathematical modeling to help you capture and prioritize qualitative metrics, ensuring you are able to make quick and accurate decisions that impact your bottom line.
Manual scoring methods suffer from two major problems: they aren’t repeatable and they aren’t scalable. Our model automates this process, so you can keep your experts working on critical business efforts instead of repetitive manual scoring.
As the adage goes, “You can’t measure what you don’t track.” Understanding the financial impact of particular risks ensures that you’re concentrating your efforts on the areas that matter, as well as increasing overall confidence in your risk management approach.
By understanding your overall risk level for each device as well as across your devices, you can more confidently assess your product development and manufacturing budget needs and allocate resources accordingly.
Our product risk dashboard provides a clear and simple communication tool for internal and external stakeholders, increasing regulatory confidence in your risk management approach.
Develop and implement policies, including maximizing the impact on key KPIs. Make more sound investment decisions to reduce patient risk, while maintaining or improving business outcomes, timelines, and project scope.
Don’t just take our word for it. Our MDM client has been able to more accurately and realistically estimate budgets for product development and manufacturing using our product risk dashboard. Their leadership also uses the dashboard to develop and implement policies to make better decision to maximize ROI.
Problem: Risk scoring was inaccurate, impacting risk mitigation
This MDM needed to report device-level cybersecurity risk to corporate stakeholders. They had created a prioritization scoring model and formula, but it had some unexpected mathematical errors. These errors biased their understanding of their overall risk level and impacted their resultant risk mitigation resource allocation and strategies.
Client’s original approach: Prioritization scoring model
This enterprise MDM’s security team had created a prioritization scoring model based on objectively identifiable qualitative metrics. As they worked with us, we discovered that their proprietary formula had inadvertent mathematical errors that impacted the accuracy of their risk analysis and mitigation. They also ran the risk that the FDA would find issues with their scoring, impacting FDA approval and increasing time-to-market. Our experts worked with this client to analyze and optimize scoring to eliminate errors and ensure repeatability for remediation.
The full scope of this effort’s results are pending, but thus far, the client has seen that the revised model allows for consistent application of standardized policy and quality requirements. Our product risk dashboard enabled them to more accurately and realistically estimate budgets for product development and manufacturing. Our client’s corporate leadership uses the product risk dashboard to develop and implement policies, as well as for development of targeted Key Performance Indicators (KPIs). These have enabled our client to make more sound investment decisions, including determining whether the the return on investment is favorable for the development and implementation of an internal Public Key Infrastructure (PKI) program.
Optimized scoring model tied to dollar-based risk metrics:
We worked with this leading MDM to identify mathematical errors in their formulaic approach. This resulted in significantly different CVSS scores, often higher than what the MDM had realized. We also created a product risk dashboard to enable them to more accurately and realistically estimate R&D budgets.