Cyber Security Breaches Cost Hospitals $1.6B Annually
Hospitals nationwide can expect to spend an average of $810,000 per security breach, according to a new report.
The study, conducted by MeriTalk, a public-private organization seeking to improve government information technology, notes that security incidents at hospitals in the United States can cost up to $1.6 billion annually.
Of the hospitals surveyed, 61% reported a security related incident in the form of a security breach, data loss or unplanned downtime, Healthcare Finance News reports.
The majority of security breaches (58%) result from malware and viruses. Outsider attacks follow behind at 42%, while physical security, which includes equipment loss or theft, accounts for 38%.
Other findings include:
- 82% of respondents said their technology infrastructure is not fully prepared for a disaster recovery event
- The biggest culprits of data loss are hardware failure, loss of power and loss of backup power
- Only 32% of respondents said they were moving forward with security analytics to help with breach prevention
Only a small number of healthcare organizations noted that they were taking steps to prepare and prevent security breaches. For example, only 42% plan to move forward with encryption initiatives, while 44% are looking into getting single sign-on and authentication for Web-based applications and portals.
Related Articles:
- Cyber Attacks to Reach New Heights in 2014
- U.S. Universities Face Millions of Cyber Attacks Weekly
- How Are You Managing the Mobile Devices on Your Campus?
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