In the last 12 months, 143 million people, or 45% of the U.S. population, have had their health records compromised by a cyberattack, costing the health care industry over $6 billion. The health care industry is the most targeted industry by cybercriminals.
The data available in medical records is extremely lucrative with a lasting effect, as it is much harder for consumers to know when their information has been compromised. A cyberattack on medical data that alters the victim’s medical history could result in a potential misdiagnosis. It costs an average of $13,500 to restore healthcare records and little to no help is given by the healthcare provider.
The rising reliance on IT in the healthcare industry, especially at a time with many IT innovations, increases security risk. This results in a need for more robust fraud detection systems that can more adequately detect breaches.