What is the cost of a Data Breach in Healthcare?
by Kelly Reed

What is the cost of a Data Breach in Healthcare?

According to a 2010 study by PGP Corporation and the Ponemon Institute,the average cost of a data breach is north of $200 per record. As the delivery of healthcare continues to evolve, the system of care becomes more digital in nature. Examples of technology include:

  • Smart phones – physician to physician and physician to patient communication
  • Email
  • IPad’s
  • Laptops|tablet computers
  • Video chat
  • Robotics
  • Electronic health records
  • Information exchanges
  • Wired + wireless networks
  • Metadata

What will tomorrow, the next five years, or the next ten years bring? Most would agree the answer will in one way or another include new technologies that have not yet been created or thought of.  New technology creates new and/or different risks. With many ways to manage a risk, 3 examples include:
Prevention – Development of a Breach Response Plan (email kellyr@vastsolution.com to request a sample).
Mitigation – Provide education to your staff: Seminar, Webinar, Email Blast, Paycheck Stuffers (email kellyr@vastsolution.com to request a sample).
Finance– Purchase an insurance policy to manage a portion of the risk:

  • Third party liability
  • First party breach notification costs
  • Crisis management
  • Forensics experts
  • Credit monitoring + call center services

For more information on what exposures your facility may have or to request a sample Breach Response Plan or educational materials, contact Kelly Reed | 906.315.7227 | kellyr@vastsolution.com.

The enrollment period for 2023 individual and family health plans ended on January 15. Please contact us to determine if you qualify for a special enrollment period.

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