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 …