2016 was the worst year on record for data breaches and 2017 was not much better. costing hundreds of millions and compromising Protected Health Information, or PHI, for millions of patients worldwide.
Research shows that, with the proper implementation of a HITRUST framework, a great majority of these reported breaches would have been prevented or swiftly remedied by placing adaptable and scaleable safeguards, preventative measures, and corrective systems in place for all organizations, first and third party, that operate with PHI, saving countless dollars, hours, and headaches from malicious attacks and human error alike.
WHY IT’S SO IMPORTANT TO SELECT A HITRUST CERTIFIED VENDOR
An inside look at how Data Breach can affect your patient’s trust!
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If you would like to learn more about HITRUST, click here to read our series of blogs on the subject.
COST OF BREACH
When it comes to ransomware attacks, healthcare is disproportionately assaulted with 88% of all ransomware attacks targeting hospitals.
These attacks are very common and have been known to shut down IT systems of entire medical centers for weeks on end.
$12.3 billion dollars was the total value of out-of-pocket expenses incurred by victims of medical identity theft.
The cost of a healthcare breach on average is $363 per personally identifiable record exposed.
Data containing PHI is protected under state and federal laws.
Criminals, hackers, and other nefarious elements use PHI for criminal acts from ransoming private health information to identity theft and possibly accessing payment and billing systems, allowing for the theft of related financial information as well.
Google #PatientStatements and #PatientPayments to learn more!
“A lost laptop, cyber liability attack, rogue employee hack or data breach to a company storing 5,000 records could mean up to $1,000,000 in legal, reporting, and remediation expenses, or more.”
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