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Consider the Change Healthcare breach of 2024, costing $3 billion (and rising) and exposing 190 million individuals data. The lapse didnt just hit hospitals; it disrupted insurers, pharmacies, providers, and patients nationwide. Private Equity: The Overlooked Cybersecurity Front Other players amplify the stakes.
Today, that figure is nearly 79%, which means that bad actors are specifically targeting the healthcareindustry. The need for security extends outside the four walls of the hospital — breaches attributed to business associates (BAs) increased from 15% in 2021 to 18% in 2022. Last year, 699 breaches affected 51.4
Ryan Witt, Vice President, Industry Solutions at Proofpoint, Inc. Healthcare firms have long been targets for cyber criminals. The healthcareindustry is more vulnerable because of the high-value nature of its data compared to data from other industries (PHI is thought to be worth 50x a credit card).
However, I’d encourage healthcare organizations to consider the downside they’re already facing as the frequency of breaches continues to mount in this industry. Healthcare organizations must find a way to develop more proactivity in their cybersecurity approach.
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