News stories involving the breach of patient data are unfortunately no longer infrequent occurrences. The health care industry is experiencing major breaches in security including identity theft and ransomware.  And odds are that it is an inside job, whether unknowingly or with malicious intent.

According to the “2016 Ponemon Cost of Data Breach Study,” the average total cost of a data breach for the 383 companies participating was $4 million, and the health care industry had the most costly data breaches, at an average cost of $355 for each lost or stolen record. That’s 2.2 times higher than the industrywide average.

 

 

But there are things that can be done to protect your organization and your patients. View this infographic to learn how pressing business concerns can impact your security posture.

Learn how IBM Security can help you make better-informed decisions about the threats your business faces

More from Healthcare

Ransomware on the rise: Healthcare industry attack trends 2024

4 min read - According to the IBM Cost of a Data Breach Report 2024, the global average cost of a data breach reached $4.88 million this year, a 10% increase over 2023.For the healthcare industry, the report offers both good and bad news. The good news is that average data breach costs fell by 10.6% this year. The bad news is that for the 14th year in a row, healthcare tops the list with the most expensive breach recoveries, coming in at $9.77…

Cybersecurity risks in healthcare are an ongoing crisis

4 min read - While healthcare providers have been implementing technical, administrative and physical safeguards related to patient information, they have not been as diligent in securing their medical devices. These devices are critical to patient care and can leave hospitals at risk for cyberattacks, causing major disruptions to patient care. In fact, 88 million individuals were affected by large breaches, compromising vast amounts of electronic protected health information (ePHI) last year according to the U.S. Department of Health & Human Services. This year,…

Cost of a data breach: The healthcare industry

3 min read - Cyberattacks grow every year in sophistication and frequency, and the cost of data breaches continues to rise with them. A new report by IBM and the Ponemon Institute, the 2024 Cost of Data Breach Study, details the financial impacts of attacks across multiple industries.The global average cost of a data breach reached an all-time high of $4.45 million in 2023, which is a 15% increase over the past three years. This increase was mainly driven by rising expenses associated with…

Topic updates

Get email updates and stay ahead of the latest threats to the security landscape, thought leadership and research.
Subscribe today