5 Steps to Estimate Potential Costs of a Data Breach
According to the report, healthcare organizations can take immediate action against data breach risks using the Protected Health Information Value Estimator, a five-step method for assessing security risks. The five steps include:
1. Conduct a risk assessment: assess the risks, vulnerabilities and applicable safeguards for each "protected health information home;"
2. Determine a security readiness score for each PHI home by determining the likelihood of a data breach based on the security readiness score;
3. For each PHI home, examine the relevance, either applicability or likelihood, of a particular cost and apple a relevance factor;
4. Determine the impact by multiplying the relevance by the consequence;
5. Add up all adjusted costs to determine the total adjusted costs of a data breach to the organization.
For more information and to download a free copy of the report, click here.
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