Breaches Cost Health Care Industry $6 Billion Annually
Angela Moscaritolo writes on SC Magazine:
Despite facing stricter privacy and security regulations, hospitals still are struggling to protect patient information, and breaches cost the health care industry $6 billion annually, according to a new study.
In the survey of 65 health care organizations, conducted by the Ponemon Institute and sponsored by data breach solutions provider ID Experts, 60 percent of respondents said they have suffered more than two breaches in the past two years.
The top three causes of breaches were unintentional employee action, lost or stolen computing devices and third-party accidents. The average number of lost or stolen records per breach was 1,769.
The survey found that breaches have cost the U.S. health care system $12 billion over the past two years. The economic impact of a data breach was approximately $2 million per organization over a two-year period.
Moreover, federal regulations have not improved the safety of patient records, the survey found.