Transnational cyber crime is spreading fast as a new and more potent threat. Since health data is attractive to criminals, it is no surprise that health organizations have experienced a series of highly publicized data breaches resulting in multibillion-dollar settlements. Over the course of 2016, health organizations anticipate greater investment in security, which will nudge up total healthcare spending.
- Eighty-five percent of large health organizations responding to PwC’s 2015 information security survey had experienced a data breach in the prior 12 months; 29% had experienced more than 50. As a result, 88% said their security spending was either increasing or staying the same in the next 12 months, and 63% intend to spend more than $1 million.
- The costs associated with health system data breaches are varied, but providers have strong incentives to spend now on cyber security to avoid high costs of future breaches.
Read the full article here