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Data theft and ransomware are costing healthcare organizations, and the problem likely will only get worse unless hospitals and health systems upgrade security, according to a new IBM Managed Security Services report.
“Despite being under constant pressure to lower the cost of healthcare to consumers, healthcare organizations simply cannot afford to make cyber security a low business priority and risk multimillion-dollar losses to a hard-hitting attack,” concludes the report, titled “Security Trends in the Healthcare Industry.”
The report cites a number of growing dangers plaguing healthcare providers, particularly data theft and ransomware. An IBM survey from December 2016 found that 70 percent of business executives victimized by ransomware attacks paid to get data back, with more than half paying more than $10,000.
But “ransomware and the cost of breaches aren’t the only threats,” IBM writes. “Another concern is the introduction of risk from the Internet of Things (IoT), mobile health apps and cloud. As the healthcare industry continues to accelerate the transformation of its IT infrastructure, the need for adequate security increases apace.”
Other highlights of the report include: