Healthcare is rapidly evolving into a new era, where almost everything is connected through digital technologies. This introduction of IoT, IoMT (Internet of Medical things), and medical devices have been the driving factor behind more informed care delivery and better access to value-based care.
But such rapid digitalization comes at a cost. The healthcare industry today is the most targeted industry in terms of cyber security threats. A recent study by Critical insights (A cyber security company) shows that in 2021 alone a whopping number of 45 million individuals were affected by cyber security threats. The current average cost per year due to these security breaches is over 10.1 million dollars.
Thus cybersecurity remains a top concern and challenge for the healthcare industry.
Impacts of Cyber Security Threats
The results of a cyber-attack on a provider network have four main outcomes all of which are strongly interconnected i.e. even one of these can ultimately result in the other three.
- Financial loss: A cyber-attack causes a data breach, and consequently healthcare organizations can be sued by patients for violating their privacy. Additionally, cyber-attacks can disrupt critical hospital operations and lead to revenue loss. For example, the WannaCry ransomware attack in 2017 caused hospitals across the globe to shut down, leading to millions of dollars in lost revenue.
- Reputational loss: Healthcare organizations rely heavily on their reputation for patients to trust them with their personal information. A cyber security breach can cause a loss of trust that can be difficult to recover from, resulting in a loss of revenue. In addition, healthcare organizations may be subject to fines from regulatory agencies for violating data protection laws.
- Loss of valuable PHI: If a hacker manages to gain access to the organization’s network, they could steal or delete sensitive data. Additionally, malware or ransomware can infect computers and servers and lock workers out of their systems, preventing them from accessing PHI. Patient health information is protected data according to the US government. A loss in PHI will ultimately cause enormous overhead costs and complicated judicial procedures.
- Delay in patient procedure: A loss in important patient data will in turn result in delayed care. The US healthcare sector thrives on data. Any breach in a provider network can cause a ripple that will ultimately affect everyone in the provider network.
Create a more secure system for your organization?
- API integration: API’s can play a big role in reducing the chances of cyber threats, as they can help keep track of all the interactions happening between different parts of a healthcare system. APIs standardize the flow of data and communication channels and utilizes OAuth 2.0 to ensure that all communication between systems is secure and encrypted.
- Risk analysis: Risk analysis is a critical process in cybersecurity and one that can help reduce the chances of cyber threats. By understanding the risks associated with using artificial intelligence in healthcare, organizations can make informed decisions about how to protect their systems and data. Risk analysis can also help to identify vulnerabilities so that they can be fixed before an attacker can exploit them.
- Trusted supply chain and software partners: A trusted supply chain and software partner can help reduce the chances of cyber threats by providing secure, reliable software solutions. By working with a reputable partner, healthcare organizations can reduce the risk of malware or other cyber threats compromising their systems and patient data. Such solution partners usually have systems in place to mitigate the chances of security breaches.
- Preparation for accelerated digitalization in the coming years: We like it or not the age of digitalization is upon us. And the US healthcare industry will reach new heights of innovation in 2023. Every healthcare provider network should buckle up and start implementing solutions to safeguard their data. The above solutions are the most effective ways to counter a cyber-attack.
How can we help?
Nalashaa has been providing bespoke Healthcare IT services to organizations for over a decade now. Our team of experts follows a three-step process of Understanding, Analyzing, and Executing. We can curate custom software solutions as per your specific needs. Let’s work together and figure out the best possible ways to protect your system.
Connect with us at email@example.com
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