Blog Post July 15, 2022

How to Strengthen Healthcare Cybersecurity

How to Strengthen Healthcare Cybersecurity

Cybersecurity and patient privacy go hand in hand within every healthcare organization. There is growing federal scrutiny, which is changing things for the healthcare industry. HealthTech takes a deep dive into how to strengthen your cybersecurity, the costs associated with cybersecurity, and tips to support your cybersecurity strategy.  

“Recovering from a ransomware attack will cost a healthcare organization $1.85 million, on average, and take about a week to resolve, according to Sophos’ most recent report. 

Healthcare organizations are also more likely than organizations in other sectors to pay the ransom, but when they do, they may not get back all their data. And just 78 percent of healthcare organizations have cyber insurance coverage, according to Sophos’ “The State of Ransomware in Healthcare 2022.” 

As healthcare systems face the daunting proliferation of cyberthreats and vulnerabilities, the federal government has continued to keep a close watch on the sector. The landscape has drastically evolved since HIPAA was signed into law in 1996. 

This spring, the U.S. Senate introduced the PATCH Act, a bipartisan bill targeting medical device security. In a statement of support for the legislation, the American Hospital Association wrote, “Cyber vulnerabilities in medical devices, often containing outdated legacy technology, have posed a significant cyber risk to hospitals.”  

With increased government scrutiny and a volatile threat landscape, healthcare organizations may also experience insurers demanding to see stronger cybersecurity controls in place in response to major losses from cyber coverage during the pandemic. Purchasing cyber insurance without understanding the requirements or the extent of coverage needed could end up being more of a hindrance than a help.” 

Read the full article here.