In IBM’s 2022 Cost of a Data Breach report, the company revealed that the global average cost of a data breach was $4.35 million. In the healthcare sector, however, that number skyrocketed to $10.1 million. Why is an attack on a healthcare organization so much more costly? While part of this comes down to the fact that healthcare organizations often have big budgets, and so might be able to pay big ransoms, the biggest part of the answer is consequences. In there, real lives are at stake. Downed
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Cybercriminals
Why Data Resilience in Healthcare Needs a Routine Physical
The greatest innovation in healthcare in the last twenty years is something that connects us all… data. At any given moment, healthcare facilities, hospitals and more rely on data to operate more efficiently, drive forward patient care and further develop medical research. Even in the last two years, data has been paramount to the development of mRNA technology that has helped us combat the COVID-19 crisis and even led to a new treatment for type-two diabetes. The recent medical
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How Hospitals Can Safely & Effectively Continue Patient Care Amid Rising Cybersecurity Risks
The world we live in is becoming increasingly integrated, and as it does, the amount of data also increases. It is estimated that 2.5 quintillion bytes – that’s 2,500,00,00,000 million, for perspective – are created, captured, and shared every day, and experts predict that number will grow exponentially in the coming years. Estimates show that the healthcare industry generates about 30% of the world’s data volume. That number is expected to reach a compound annual growth rate of 36% within the
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2023’s Biggest Pharma Cybersecurity Threats to Watch
Due to the recent growth of the pharmaceutical industry, the value of highly-sensitive data stored in pharmaceutical systems and the degree of the potential damage that cyberattacks on the industry can cause, it is safe to say that pharma could be one of the most targeted industries by cybercriminals in 2023. Ransomware, phishing attacks, business applications and third-party vendors will be some of the biggest threats to this key vertical as we approach the new year. RansomwareThe threat of
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Cybersecurity: Is SOC2 Worth The Hype for Healthcare Organizations?
The healthcare industry has always been a prominent target for cybercriminals worldwide. They can access high-value patient PHI/PII data and use it maliciously to disrupt the patient’s treatment routine and bring down uptime, which is critical. It has repercussions on patients, doctors, hospitals, and everything associated with the healthcare ecosystem. Information security is a reason for concern for all organizations, including those that outsource key business operations to third-party
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5 Executive Healthcare Cybersecurity Predictions to Watch in 2023
Irfan Shakeel, VP of Training and Certification Services, OPSWAT Cyberattacks on the healthcare industry will continue to increase: The healthcare industry is most vulnerable to cyberattacks, which makes it a lucrative target for cybercriminals; attacks on the healthcare industry have grown significantly in 2022, and attacks will even go further in 2023. According to IBM, healthcare breaches cost the most at $9.23 million per incident. And, most importantly, cyberattacks not only affect human
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4 Data Security Challenges for Healthcare Organizations in 2022
The healthcare industry has always been a prominent target for cybercriminals worldwide. They can access high-value patient PHI/PII data and use it maliciously to disrupt the patient’s treatment routine and bring down uptime, which is critical. It has repercussions on patients, doctors, hospitals, and everything associated with the healthcare ecosystem. Data security is one of the most pressing challenges facing the healthcare industry today. Cybercrime’s recent surge has led many healthcare
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Modernizing Data Access: 3 Tips for Securing Patient Data in the Cloud
There is a tremendous amount of data within the healthcare and life sciences industries. According to RBC Capital Markets, the healthcare sector accounts for 30% of the world’s data and is forecasted to grow by a compound annual growth rate of 36% in the next two and half years. The benefit is that healthcare professionals, organizations, and analysts can use this data to improve the quality, quantity, and accessibility of healthcare. But it also carries great risk. More organizations
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Popular Social Engineering Cyberattacks and How to Prevent Them
Did you know, in the first half of 2022, there were 817 cases of data compromises in the United States, and over 53 million individuals were affected? A multinational hospitality group faced an attack that caused their IT system to shut down for 2 consecutive days. After tricking an employee into downloading a malicious piece of software through an email attachment, this hotel chain’s attackers obtained extremely sensitive information that included the password to their internal password
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Protecting AI’s Boundless Potential in Healthcare
Artificial intelligence can do amazing things for patients, providers and the healthcare business — but only if the right cyber safeguards are in place. For more than a decade, a cybercrime syndicate known as Evil Corp has tormented organizations around the world with malware and ransomware attacks. And now, it seems, the group has designs on healthcare companies. “Evil Corp should be considered a significant threat to the U.S. health sector,” the Health Sector Cybersecurity
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