Revenue Cycle Management Can Help Advance The Cybersecurity Mandate

HIT Consultant

John Talaga, EVP & GM, Healthcare & David King, CTO at Flywire

Holding steady in the No. 1 spot, the healthcare industry has held the top rank in IBM’s Cost of Data Breach report for the past 11 years. It’s a lead that seems secure. In just a year from 2020-2021, the average total cost for healthcare for an event increased 29.5%, and now sits at $9.23 million.

Even amidst that threat landscape, the percentage those in the healthcare space spend on cybersecurity hasn’t climbed out of the single digits. Only 6% or less of the IT budget is typically allocated for cybersecurity, according to HIMSS’ 2020 Cybersecurity Survey. Not helping the cause is that security spending is competing against even more tech priorities for attention. Data from the Department of Health...

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