Holding steady in the No. 1 spot, the healthcare industry has held the top rank in IBM’s Cost of Data Breach report for the past 11 years. It’s a lead that seems secure. In just a year from 2020-2021, the average total cost for healthcare for an event increased 29.5%, and now sits at $9.23 million. Even amidst that threat landscape, the percentage those in the healthcare space spend on cybersecurity hasn’t climbed out of the single digits. Only 6% or less of the IT budget is typically
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Healthcare Cybersecurity | Healthcare Data Security | Ransomware | Hospital Security Breaches
2 Overlooked Cost-Effective Healthcare Cybersecurity Strategies to Minimize Risk
The Office of the White House recently issued a Proclamation marking October as Cyber Security Awareness Month and shared this year’s theme: “Do Your Part. Be Cyber Smart.” Threats are indeed on the rise, posing a significant risk to private businesses, public infrastructure, and national security, especially as the nation has increasingly adapted to a remote environment in the continuing battle against COVID. As businesses look to “do their part” to combat cybersecurity threats, they will need
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What COVID-19’s Attack on Healthcare Cybersecurity Taught Us About Its Shortcomings
In the early chaos of the coronavirus pandemic, the healthcare industry struggled to keep up with an influx of patients amidst a shortage of necessary resources. During this time, healthcare staff naturally prioritized the health and safety of their patients, but this led to a marked decline of cybersecurity measures, leaving themselves open to attacks. Cybercriminals took advantage of the opportunity, and since the start of the pandemic to late 2020, cyberattacks on healthcare firms in the
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3 Ways Healthcare Orgs Can Work to Prevent Insider Security Threats
Though it’s often “highly sophisticated” or “nation-state” attackers that make headlines, the truth is that healthcare’s most overlooked cybersecurity threats are within the IT ecosystem. In fact, according to Verizon’s 2021 Data Breach Investigations Report, nearly 40 percent of all global security incidents in 2020 were caused by inside actors. These insider threats are often not malicious in nature, but accidental errors, such as employees clicking on phishing links, using weak passwords, or
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4 Key Constraints Preventing Healthcare from Proper Cybersecurity
Healthcare was created to help people. So why is this industry the most heavily targeted by cybercriminals and ransomware attacks? In the first half of 2020 alone, the Department of Health and Human Services saw a nearly 50% increase in the number of healthcare-related cybersecurity breaches. The COVID-19 pandemic forced the healthcare industry to operate at a level that it wasn’t prepared for, which meant emergency facilities were erected without proper security measures in place in order to
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Cybersecurity: The Hidden Health Tech Crisis No One’s Talking About
The life-saving capabilities of technology in a healthcare environment are beyond dispute. Medical professionals in hospital environments rely on networked medical devices to access and share patient information rapidly to reduce the time it takes to make life-saving decisions and deliver essential patient care. Connected devices in healthcare environments allow medical professionals to monitor patients more closely, improve medical assistance and use data for analytics and medical research.
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Nuvolo Secures Funding from Mayo Clinic to Accelerating OT/Cybersecurity Capabilities in Healthcare
What You Should Know: - Nuvolo, the world's fastest-growing workplace software company, today announced it has extended its Series C round for a total of $32 million. - The latest investment comes from Mayo Clinic. Nuvolo will use the investment to advance the company's Operational Technology (OT) cybersecurity solution which helps healthcare organizations, and other OT intensive industries, address the growing challenges posed by the proliferation of cybersecurity threats from
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What the Shift to 5G Will Mean for Healthcare Cybersecurity
5G has spent years hovering on the horizon, its industry-revolutionizing potential waiting just out of reach for healthcare providers and consumers. But now, the wait is (almost) over -- and for some, it already is. Mobile 5G began to make limited appearances in major cities across the country in the latter half of 2019. Those limits won’t be in place for long; however, a more comprehensive rollout is expected to sweep through the nation this year. 5G’s entry onto the scene has the
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Why Ransomware Poses a Threat to Both Providers & Patient Health
Ransomware attacks continue to wreak havoc on all types of organizations across almost every industry. The healthcare sector in particular has emerged as one of the top targets for ransomware gangs, and the impact can be more dire than for most others. According to new research by Tenable, ransomware is responsible for 46% of all data breaches in the healthcare sector, compared to 35% of data breaches across all verticals. Just last month, a major hospital in Maryland lost access to a
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Cynerio Raises $30M to Expand Healthcare IoT Cybersecurity Platform
What You Should Know: - Cynerio, a leading provider of Healthcare IoT cybersecurity and asset management solutions, today announced it has secured $30 million in Series B funding led by ALIVE Israel HealthTech Fund, Israel's pioneering HealthTech investment fund. Existing investors, global VC Accelmed, RDC, Elron’s joint venture with Rafael, and Swiss-based growth investor, MTIP, also participated in the funding round. - Notably, the COVID-19 pandemic caused a nearly 50% increase in the
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