Top security concerns in the healthcare industry
According to Symantec, the healthcare industry spends considerably less on cybersecurity technology and staff than other regulated industries. For comparison, in 2019, the US federal budget allocated $15 billion for cybersecurity-related activities, an increase of 4.1 percent above the FY 2018. However, healthcare averaged at only 5% of budget spent on security.
A recent survey from the Healthcare Information and Management Systems Society (HIMSS) has, however, found good news in terms of budget for cybersecurity. In their 2019 report, “HIMSS Cybersecurity Survey,” they state that “Many positive advances are occurring in healthcare cybersecurity practices and healthcare organizations appear to be allocating more of their information technology (“IT”) budgets to cybersecurity.”
While spending on cybersecurity is much like purchasing insurance, the changing tide of increased cybersecurity threats targeting the healthcare sector is slowly resulting in attitude changes and increased budgets. This perspective can be catastrophically short-sighted in the long term. A recent Ponemon Institute study found healthcare data breaches increased by five percent in the past year and the cost of the exposed data was...