Despite the soaring number of cyber attacks in healthcare, the industry spends very little on cybersecurity. ABI Research calculates cybersecurity spend for healthcare protection will only reach $10 billion globally by 2020, just under 10% of the total spend on critical infrastructure security.
“Cybersecurity traditionally has been underfunded in the healthcare sector… It’s looked at as a large cost center.” ~ Connie Barrera, Director of Information Assurance and CISO at Jackson Health System in Miami
This needs to change. If healthcare providers don’t start to prioritize investment in cybersecurity and consumer protection, they risk losing thousands of precious medical records, and the business of their patients and customers.
But all investments need buy-in from the top. The best way to make a business case for more security budget is to create a sense of urgency. Here are 10 stats to help you do it:
- The number of information security incidents reported by healthcare providers soared 60% from 2013 to 2014—almost double the increase seen in other industries.
- Image may be NSFW.
Clik here to view.
The street cost for stolen medical information is $450 vs. $1 for a social security number. - Medical data is worth 10 times more than a credit card number on the black market.
- Cyber attacks in healthcare are skyrocketing—up 125% since 2010. (Ponemon Institute)
- There have been 1,282 attacks affecting more than 143.3 million individuals since 2009. (US Department of Health and Human Services)
- Cybersecurity spend for healthcare protection will only reach $10 billion globally by 2020, just under 10% of the total spend on critical infrastructure security.
- In 2014, medical identity theft increased by nearly 22 percent.
- If you have a breach, research suggests that 60% of your customers will think about moving and 30% actually do.
- Only five of the 40 top healthcare brands have a DMARC record.
- Cyber attacks cost the U.S. healthcare system $6 billion every year. (US Department of Health and Human Services)
But enough with the scary (but very real) statistics. What can the healthcare industry do to fight phishing attacks and cybercriminals? Check out The Healthcare Guide to Email Fraud for best practices you and your team can implement.
