Cybersecurity in Healthcare
Medical records are between ten and twenty times more valuable than credit card numbers or banking information, making the healthcare industry a favorite target for cyber attackers. According to MarketDataForecast, the healthcare cybersecurity market is expected to reach a whopping 24.58 Billion USD mark by year 2026.
Healthcare’s Huge Cybersecurity Problem
Over 40 million healthcare records were exposed or compromised for the second consecutive year in 2020, according to the Data Breach Barometer Report. These statistics are alarming because healthcare records are being sold on the dark web for premium prices.
The healthcare industry is a whole economy in itself because of the large number of financial transactions. The healthcare institutes are also migrating their data to cloud servers to make it easily accessible. However, this shift is also causing them to lose trillion dollars worth of health records in data breaches.