Healthcare industry spends $1.3B each year to address endpoint security attacks

Jessica Kim Cohen - Print  | 

Endpoint security attacks cost the healthcare industry $1.3 billion each year, according to a Ponemon Institute report.

For the report, sponsored by the cybersecurity company Barkly, the Ponemon Institute surveyed 665 IT security professionals about how they manage their organization's security risks. The average organization lost $5 million as a result of endpoint attacks in 2017, according to the report.

Here are six common costs organizations incur in the wake of an endpoint security attack, ranked by the proportion of money the average company lost after the attack.

1. IT and end user productivity loss: 30 percent, or $1.5 million

2. System downtime: 25 percent, or $1.3 million

3. Theft of information assets: 23 percent, or $1.2 million

4. Damage to infrastructure: 10 percent, or $501,060

5. Reputation damage: 8 percent, or $400, 848

6. Lawsuits, fines and regulatory actions: 4 percent, or $200,424

To access the full report, click here.

More articles on cybersecurity:
Google, UC Berkeley researchers find 27.8% of phishing victims use Gmail
Amazon Web Services adds warning to publicly-accessible cloud servers
Vanderbilt researchers question results of recent study on hospital data breaches 

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