Data breaches continue to be on the rise in the healthcare industry. In their 2018 Cost of a Data Breach Report, IBM and the Ponemon Institute found that healthcare data breaches cost an average of $408 per record; the highest per record cost of any industry and nearly three times higher than the overall average of $148 per record.
Cyberattacks are the source of more than half of the data breaches in the healthcare industry. The goals behind these cyberattacks range from economic espionage to geopolitical or corporate espionage. The cyberattacks themselves employ ransomware to shut down operations by targeting vulnerable medical devices. The remainder of the breaches tend to be the result of insider threats – including employee negligence, third-party attacks, or lost or stolen devices.
Irrespective of the cause of the breach, the concern is that existing tools deployed by healthcare organizations are not effective in detecting the breaches in time to prevent losses.