As the healthcare industry continues to digitize to meet patient demand and data-driven regulations, it has become a prime target for hackers, as personal health information (PHI) is among the most profitable commodities on the dark web.
There have been more than 2,500 healthcare data breaches over the past 10 years. Not securing patient data can cost healthcare organizations millions of dollars in lost business, remediation efforts, regulatory fines and reputational damage. In fact, the healthcare industry has the highest breach-related costs of any industry at $429 per record. With financial services breaches, the remedy offered is monetary. With a healthcare breach, how do you compensate a patient for compromising their health condition?