The financial cost of 4 healthcare cyberattacks

As ransomware attacks cost the U.S. economy more than $77 billion, the network downtime and repair costs are leading to massive losses and even closures for healthcare companies in Vermont, Illinois and Massachusetts.

Here is the financial cost of four healthcare cyberattacks that Becker's has reported on in 2023:

  1. A 2020 ransomware attack that forced Burlington-based University of Vermont Health Network to shut down its EHR for nearly a month cost the health system $65 million.

  2. Point32Health, the parent company of Harvard Pilgrim Healthcare, attributed a $102.7 million loss to a ransomware attack. 

  3. Chicago-based CommonSpirit estimated that an October 2022 ransomware attack cost the health system $150 million due to business disruptions and the cost of fixing IT issues.

  4. Spring Valley, Ill.-based St. Margaret's Health partly blamed a cyberattack on the decision to close its Peru, Ill. hospital.

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