[Infographic] The state of healthcare data privacy: 5 key findings

2015 was rife with major data breaches. The three biggest data breaches affected a combined 101 million individuals. Indianapolis-based Anthem reported a breach affecting 78.8 million individuals; Mountlake Terrace, Wash.-based Premera Blue Cross suffered a breach affecting 11 million; and Rochester, N.Y.-based Excellus Health Plan reported a breach affecting 10 million individuals.

The healthcare industry is a growing target for data breaches. Royal Jay, a custom software development company, created an infographic based on Ponemon Institute's "Fifth Annual Benchmark Study on Privacy and Security of Healthcare Data.” Here are five key findings and the infographic.

  1. In the first half of 2015, there were 888 data breaches, and 42 percent of the major breaches were healthcare-related. That equates to 34 percent of all healthcare records in the United States being exposed.
  2. Data breaches cost the healthcare industry $6 billion a year. The average cost for a healthcare organization that suffered a breach is $3.5 million, and is $398 per exposed, personally identifiable record.
  3. Medical identity theft victims spend an average of $13,500 to mitigate a breach. The costs include restoring their credit, reimbursing healthcare providers for fraudulent claims and correcting inaccuracies in their health records.
  4. While cybersecurity is a concern, half of organizations indicate having little or no confidence in their ability to detect patient data loss or theft. Forty-one percent of providers don’t encrypt data, and 23 percent of organizations don’t require both privacy and security training.
  5. The healthcare industry risks $305 billion in cumulative lifetime patient revenue in the next five years if cybersecurity does not become a priority. 

Breached: A costly threat to healthcare

Source: Royal Jay

 

More articles on health IT:

10 health technology hazards for 2016
7 recent vendor contracts, go-lives
ProMedica CIO Rose Ann Laureto talks Epic 2 days after go-live

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months