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.

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Noah Schwartz

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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