It is not only the cost of medical data breaches on the rise but also the incidence. According to the same research, more than 1,500 data breaches in healthcare have resulted in more than 155,000,000 Americans having their medical data compromised. Accenture estimates that the healthcare industry is the most vulnerable. In the next few years, hospitals alone will suffer losses of $305 billion.

Healthcare Industry is disproportionately vulnerable

Regulations of the Government

Why is the healthcare sector so susceptible to data breaches? Government regulations are a key factor in the vulnerability of the healthcare sector to cybercrime. These laws require that all medical institutions maintain electronic health records (EHR), and other practices, in accordance with the Patient Protection and Affordable Act. Not all healthcare providers have the resources to secure the large records they are required.

Even though hackers are finding more sophisticated ways to steal patient data, it is still necessary to use even more secure methods. This is especially important in healthcare, where government regulations require that hospitals as well as healthcare providers store patient data for long periods of time.

Healthcare providers are at greater risk from third-party agencies

Hackers also target third-party vendors and medical insurance companies that provide services that are peripheral to hospitals. This makes them vulnerable to attacks. The Harvard Business Review pointed out that medical institutions increasingly depend on third-party vendors to provide low-cost and efficient services to patients. This increases the risk of data breaches.

Hackers want medical records

Hackers have access to a wide range of data held by healthcare providers, which includes:

Social Security Numbers

Pre-existing health records

Address at home

Email addresses

Number of the NHS

Medical diagnostic tests results

Ethnicity

Date of birth

Other, more general, confidential information.

The length of time the records were kept and the amount of information within directly impact the vulnerability of healthcare providers to data theft and the potential severity for cyber criminals gaining access.

Medical Data at a High Price

Illegal portals can make it possible to sell medical data for a surprising amount of money. According to Reuters, medical data can be sold for 10 times the value of a credit card number.

Potentially, cyber thieves could also use patient information to obtain ransom payments from hospitals and other healthcare institutions.

Insurance Fraud and Drug Access

Apart from the obvious financial benefits and as a reason for the high resale values of medical records on black market, it is important to remember that wrongdoers could potentially purchase expensive drugs or equipment or claim insurance benefits by using fake IDs after they have obtained detailed patient information.

How healthcare institutions can prevent patient information theft

Experts in cybercrime reveal that hospitals can take multiple steps to safeguard patient information.

Education is key when it comes to Phishing

Both patients and hospital staff need to be educated on the dangers associated with phishing and to be careful when opening emails and clicking on links. All documents, including any communications sent by insurance companies, should be carefully reviewed by patients. Education should be provided on an ongoing basis.

Enforceable Protocols Regarding Equipment Management

Cyberattacks are not always the cause of medical data breaches. However, electronic devices such as laptops and electronic storage equipment such hard drives and flash drives may contain valuable medical data.

Hospitals and other healthcare providers must train all employees who have access to sensitive data and any personnel within their organizations. All employees must be familiar with HIPAA regulations as well as the mandatory patient privacy regulations.

Hospitals and other organizations need to work with certified companies in order to properly dispose of their electronic media in compliance with HIPAA regulations and laws. They can work with experts to ensure that hard drives and other storage media is properly shredded and sent to recycling companies to be reduced to their alloy form.

These professionals provide a complete list of serial numbers for the hard drives and solid-state drives they destroyed. They also provide a mandatory Certificate Of Destruction. This exempts the organization from any liability arising from the equipment.

Audits of digital systems

To assess potential data breach vulnerability, medical institutions must perform detailed audits and analyses of their digital systems. This audit must be done at least once every twelve months, according to HIPAA regulations.

The Worst Ever: How to Deal with a Medical Data Breach

No matter how prepared a healthcare provider is, every data breach cannot be prevented. Protecting the confidential information of your patients goes beyond securing data against breaches. It also includes preparing an action plan to deal with any medical data breaches that may occur.

Healthcare providers should assume there will be an investigation into the medical data breach and should document any actions taken to address it.

Establish a team and define the priorities

As soon as possible after a breach of medical data is identified, an incident response team should be formed. One of the first tasks for the team should consist of defining the priorities. Priorities that may be competing immediately following a breach include:

Prevention of revenue loss

Prevention of harm to patients

Communication with the affected

Protecting the reputation of the company

Avoiding fines.

Backup Restore

Healthcare providers and contractors alike should keep an offline backup of sensitive files. The offline backup would allow for the recovery of the data in the event that there is a breach. This will help to minimize the loss for both the provider and the patients.

Communicate quickly, openly, and honestly

It is not only a good business practice to communicate quickly with regulators and patients, but it is also required by law.

This post was written by Steven Elia Co-Founder and Recycling Director at eCycle Florida. eCycle Florida is a R2 Certified electronics recycling company in the state of Florida. Our processes and procedures are dedicated to the proper destruction and recycling of your electronics. eCycle Florida is your go-to for Pinellas County electronics disposal.