Cybersecurity: Weighing the price of prevention vs. recovery

Cybersecurity is gaining more attention, particularly following several high profile breaches this year. While preventative measures represent a significant investment, this cost is outweighed by recovering from a breach, according to PwC's Behind the Numbers, 2016 report.

Cybersecurity prevention costs: $8 per patient record
•    Risk assessment and management
•    Security controls
•    Monitoring and detection
•    Forensics and insurance

Breach costs: $200 per patient record
•    HIPAA fines
•    Legal fees
•    Lost business due to reputational damage
•    Customer restitution and credit monitoring services

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