The healthcare industry is under increasing attack by criminals, and for good reason… In the market for illicit information, stolen credit cards are worth between $1 to $3 each and social security numbers fetch about $15. But the real money comes from stolen medical records, which are worth $60 each.

Industry giants like Anthem, Hollywood Presbyterian, UCLA Health System and MedStar Health are only a few of the healthcare providers that have been hacked in the past year.

A study by NetDiligence revealed that small and mid-sized healthcare organizations filed 46% of all cyber liability insurance claims in 2015, clearly demonstrating that large hospitals and healthcare providers are not the only organizations dealing with system breaches, data losses, and ransom demands.

With healthcare now considered among the most vulnerable targets of cybercrime, not surprisingly insurance companies are charging more for coverage – as much as triple from just a year ago. High deductibles are common and policies are tightly structured to deal with this high risk sector.

With most healthcare providers spending only 3% or less of their total IT budget on security, it’s hard to argue for more favorable treatment from insurance companies.

The reality of healthcare in the digital age is that more must be invested in security, both to prevent attacks and to demonstrate effective and reliable security to qualify for an affordable cyber insurance premium.

DataLink can assist with security risk assessment, gap analysis, and HIPAA compliance to safeguard your organization’s medical records. Contact us today at 410.729.0440 or sales@DataLinkTech.com.