GlobalData stresses stronger cybersecurity following healthcare data breaches

February 20, 2024

FEATURED

GlobalData

In light of the trend which has seen the number of patient records exposed in data breaches double in 2023, GlobalData has stressed the need for robust cybersecurity measures to safeguard healthcare data.  

This sharp increase has been attributed to various factors, including the growing sophistication of cyberattacks, the expanding attack surface due to the digitisation of healthcare records and the increasing value of healthcare data on the black market. 

GlobalData wants to reduce risk 

“The repercussions of these breaches extend far beyond the immediate exposure of patient records,” said Kamilla Kan, Senior Data Scientist in Medical Devices team at GlobalData. 

“Patients impacted by these breaches face significant risks, including identity theft, financial fraud and potential harm to their privacy and confidentiality.  

“Moreover, healthcare organisations that fall victim to data breaches risk facing severe consequences, including reputational damage, regulatory fines and legal liabilities.” 

According to GlobalData, global cybercrime will reach $10.5 trillion annually by 2025.  

Tackling this issue requires investment and GlobalData forecasts that cybersecurity revenues will reach $344 billion worldwide by 2030. 

The rise in patient record breaches has sounded a wake-up call for healthcare organisations to prioritise cybersecurity and strengthen their defences against evolving threats.  

As custodians of vast amounts of sensitive patient data, healthcare providers must adopt proactive measures to mitigate the risk of breaches and protect patient privacy and security. 

A holistic approach 

“Ultimately, the surge in patient record breaches underscores the urgent need for a proactive and holistic approach to healthcare data security,” Kan added.  

“As the healthcare industry continues to embrace digital transformation, it is imperative that stakeholders across the ecosystem work together to fortify defences, mitigate risks and safeguard the privacy and security of patient data.  

“Only through concerted efforts and collective action can we ensure a future where healthcare data remains safe, secure, and protected from exploitation.” 

More Security News  

Read Next