Industries

Healthcare

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.

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Insight

Healthcare Cybersecurity Statistics

$408

Per Breached Record

Approximately $408 per record is the cost of healthcare data breaches, according to the HIPAA Journal.

5x

Increase in Attacks

Between 2017 and 2020, ransomware attacks on healthcare organizations were predicted to quadruple, and will increase by an astounding 5X by 2022 as per the Cybersecurity Ventures report.

93%

Organization Affected

Over the past three years, 93 percent of healthcare organizations have experienced a data breach, and 57 percent have suffered more than five breaches during the same period.

24%

Healthcare Workers Without Cybersecurity Training

According to a report analyzed by Health IT Security, 24 percent of U.S. health employees have never received cybersecurity awareness training, but believe that they should.

4% – 7%

Portion of IT Budget Dedicated to Cybersecurity in Healthcare

The average health system spends four to seven percent of its IT budget on cybersecurity, compared with about 15 percent for other sectors such as finance

Healthcare Industry

Cybersecurity Challenges in Healthcare

The healthcare industry has always been a target for hackers because of its strict regulatory policies and the value of the patient data. The healthcare industry is also facing a shortage of qualified security personnel.

Healthcare Compliance Programs

Healthcare providers are not only vulnerable to cyberattacks, but they also need to comply with strict compliance and regulatory frameworks. These requirements are demanding, and can be difficult to keep up with.

Healthcare Compliance Programs Healthcare providers are not only vulnerable to , but they also need to comply with strict compliance and regulatory frameworks. These requirements are demanding, and can be difficult to keep up with.

Complex Data Governance in Healthcare

Many security solutions fail to align with business processes, and this can lead to non-compliance and lead to hefty fines. As a result, healthcare providers need to understand the security needs of their business, and then align their security solutions with these needs to ensure that their business processes are properly protected.

Complex Data Governance in Healthcare Many security solutions fail to align with business processes, and this can lead to non-compliance and lead to hefty fines. As a result, healthcare providers need to understand the security needs of their business, and then align their security solutions with these needs to ensure that their business processes are properly protected.

High Cybersecurity Costs in Healthcare

Healthcare organizations are facing increased threats from hackers and malicious insiders. As a result, the healthcare industry is spending millions of dollars to prevent data breaches but still they fail to completely contain the breaches.

High Cybersecurity Costs in Healthcare Healthcare organizations are facing increased threats from hackers and malicious insiders. As a result, the healthcare industry is spending millions of dollars to prevent data breaches but still they fail to completely contain the breaches.

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BreachQuest

Healthcare Cybersecurity Solutions

Healthcare data is extremely valuable and therefore, the average cost of a data breach in the healthcare industry is $408 based on HIPAA Journal’s report. Here’s what BreachQuest can do for health organizations to help prevent data breaches:

Data Migration to Cloud

Healthcare data is the most expensive asset of any healthcare organization. Most of these organizations used to store their data on their on-premise servers. However, on-premise data servers were not very efficient in handling maximum requests, and it was costly too. Therefore, organizations started to migrate their data on cloud, which is significantly faster and more efficient. However, cloud data migration also opened these health organizations to a wide spectrum of attacks from all across the globe.

At BreachQuest, we constructed Priori Platform with a core focus to prevent and contain data breaches beforehand. The Priori system is capable of continuous monitoring and fast incident response for containment and fast recovery at lower costs.

Emergence of IoT in Healthcare

The Internet of Things (IoT) is emerging with healthcare on a large-scale because it allows doctors to keep track of a patients’ healthcare data in real time. The technology is indeed groundbreaking, but it is not free from potential cyber threats. In 2021, the global medical IoT market is projected to reach $136.8 billion, according to Safety Detectives.

The connectivity of IoT devices with organizations’ servers to update sensitive medical records is resulting in new exploitable vulnerabilities that could lead to a data breach. Thus, a continuous monitoring solution with fast incident response such as BreachQuest’s Priori Platform is necessary to recover from data breaches and remediate risks.

Healthcare Ransomware Prevention

According to U.S. Department of Health and Human Services (HHS), 34% of healthcare organizations were hit by ransomware in the last year, a number that goes up to 93% over the last 3 years.

Cyber criminals are consistently drawn to attacking these organizations due to the high value of healthcare data, shown by the fact that successful data breaches in healthcare consistently result in premium ransom demands.

BreachQuest’s Ransomware Response services help healthcare organizations to deeply analyze the root of any ransomware attack using our specialized tools, and our vetted security experts also develop and implement ransomware recovery plans to recover your organization’s data.

Conclusion

Why BreachQuest?

Many organizations in the healthcare industry simply lose their data due to slow incident response and zero visibility. They are unable to develop recovery plans based on detailed analysis of the attack. However, our Priori Platform is way more sophisticated and our teams are equipped with the right tools and platform to remediate and mitigate all possible threats.

Ransomware response recovery services are available on our Priori Platform, where our expert teams utilize a collaborative approach to create a data recovery strategy to prevent data loss. Furthermore, we use our specialized tools for detailed threat analysis using indicators to direct our security experts for remediation and recovery.

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