Cynerio, a New York-based provider of medical device and Internet of Medical Things (IoMT) security selections, today announced it has raised $7 million in funding from investors Accelmed, RDC; and MTIP. The company will use the funding to help fuel growth in North America for its 100% healthcare focused cybersecurity platform.Founded in 2017, Cynerio’s IoMT fraud detection platform analyzes the medical workflows in the IoMT ecosystem, to automatically discover all the entities on the network,
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How Blockchain Technology Could Help Prevent Medical Fraud
Most people know blockchain as the transaction ledger associated with cryptocurrency transactions. However, evidence suggests a specific use for it that applies to health professionals — reducing medical fraud. Blockchain’s Innate Characteristics May Cut Down on FraudIndividuals think blockchain shows promise for minimizing fraud in medicine because of some of the features it offers. For example, many fraudulent practices in the health industry and elsewhere begin when people manipulate or
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Global Healthcare Cybersecurity Spending Expected to Exceed $65B Over 5 Years
Global healthcare cybersecurity spending is expected to exceed over $65 billion dollars over the next five years, according to Black Book’s annual healthcare cybersecurity survey. According to 88 percent of hospital representatives surveyed, IT security budgets have remained level since 2016. As a percentage of IT organizational budgets, cybersecurity has decreased to about three percent of the total annual IT spend.Budget constraints have encumbered the practice of replacing legacy software and
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5 Tips for Protecting Your IoT-enabled Medical Devices
Research shows us that security breaches can greatly impact a healthcare organization’s reputation. Unfortunately, healthcare leaders are stuck in the cross hairs of consumers and hackers. While consumers want transparency, access to information and assurance their personal information will remain safe, hackers are busy compromising patient information at a faster speed than ever before.As healthcare IT organizations strive to become more accessible and “open” to support patient engagement
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Evolving Hacker Behaviors to Disrupt Healthcare Services
Most people don’t spend much time thinking about what complex organizations hospitals are. Whether anticipating the joyful arrival of a newborn baby or worrying about an unexpected illness or injury, hospital visitors aren’t usually thinking about cybersecurity. Even most hospital employees only see a piece of the big picture, with little reason to consider operational risk.But lots of people are indeed losing sleep over cyber threats to patient safety — IT administrators and clinical engineers
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7 Things Healthcare Organizations Need to Know About GDPR
Since the arrival of HIPAA more 20 years ago, healthcare organizations and professionals have become painfully aware of the price for not safeguarding private medical information.In fact, more than 171,000 privacy rule complaints have been recorded since 2003, resulting in millions upon millions of fines. Three data breaches in 2013 cost Advocate Health System $5.5 million, while New York Presbyterian Hospital and Columbia University paid a combined $4.8 million to settle charges from a 2010
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Survey: 4 in 5 Physicians Experienced Cyberattacks In Their Clinical Practices
More than four in five U.S. physicians (83 percent) have experienced some form of a cybersecurity attack, according to new research released today by Accenture and the American Medical Association (AMA). The key findings reveal physicians see need for the healthcare industry to increase cybersecurity support for medical practices in their communities. More than half (55 percent) of the physicians were very or extremely concerned about future cyberattacks in their practice. In addition,
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Survey: Lack of Budget & Time Key Obstacles to Healthcare Data Breach Prevention
According to a recent Netwrix 2017 IT Risks Report, 75% of healthcare organizations indicated lack of budget and time as the main obstacles to taking a more efficient approach towards management of healthcare data breach prevention. Additionally, 44% stated appropriate participation of senior management as another key obstacle.The 2017 IT Risks Report produced by Netwrix Corporation, provider of a visibility platform for data security and risk mitigation in hybrid environments asked IT pros from
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Accenture: Artificial Intelligence Healthcare Market to Reach $6.6B by 2021
The artificial intelligence (AI) healthcare market is expected reach $6.6 billion by 2021, representing a compound annual growth rate (CAGR) of 40 percent over the next five years, according to a new report from Accenture. The report reveals key clinical health AI apps can potentially create $150 billion in annual savings for the US healthcare economy by 2026.AI in health represents a collection of multiple technologies enabling machines to sense, comprehend, act and learn so they can perform
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Why It’s Time for Hospitals to Become Immune to Ransomware
Editor's Note: Greg Maudsley is a cyber security expert at Menlo Security, a Silicon Valley-based cyber security company that protects organizations from cyber attack by eliminating the threat of malware.Hospitals and other healthcare organizations (HCOs) are increasingly singled out by cyber criminals for ransomware and other attacks. Not only are patients’ sensitive records being targeted, but also – as the FBI warns – their intellectual property or credit card information. The
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