Fitch: Health systems face growing financial pressure from cyberattacks
U.S. hospitals and health systems face growing financial pressure from cyberattacks, credit rating agency Fitch Ratings reported last week.
“Ransomware pay-outs and efforts to protect or ‘harden’ healthcare systems and cyber defenses are affecting hospital financial flexibility by increasing on-going operating expenses,” the report notes. “Attacks may also hinder revenue generation and the ability to recover costs in a timely manner, particularly if they affect a hospital’s ability to bill patients when financial records are compromised or systems become locked.”
John Riggi, AHA senior advisor for cybersecurity and risk, said, “This report serves as another validation point, which unfortunately has become very evident — cyberattacks, particularly ransomware attacks, targeting hospitals have grown in frequency and severity with wide ranging...