Healthcare industry
Category : Data Privacy

Impact of Data Breaches in the Healthcare Industry – Effective Strategies to Mitigate Threats

Posted On June 20, 2024

Healthcare is the most targeted industry by malicious actors with an 8.2% increase in threat incidents since 2022 costing it an average of $10.93 million. Growing risky insider incidents and hefty regulatory fines indicate an urgent need for the industry to adopt a robust security system and gain strong control over rising data attacks leading to regulatory compliance breaches.

The highly data-driven Healthcare industry – facing the most threats as 30% of large data breaches happen in hospitals – is in utmost need of adopting firm countermeasures to mitigate risks and loss of reputation.

Mitigate Breaches

The Healthcare industry is at the center of data attacks that cause disruptions to its high liability to maintain regulatory compliance. Let’s understand what causes the most harm to the industry.

What are the threats the Healthcare industry faces the most

Trusted insiders pose the biggest threat to the healthcare industry by exploiting susceptibilities in security and causing a breach of workplace compliance.

Malicious insiders

The healthcare industry faces a significant threat from within in the form of malicious insiders who, benefiting their authority, gain access to critical data and pass it to competitors or third parties for monetary benefits or personal gains.

Workplace non-compliance

Risky actors looking for security vulnerabilities make their way to sensitive health records and disclose data to cause harm to business trust and reputation.

Unauthorized data exposure

The industry receives threats from disgruntled or dissatisfied insiders who act vengefully to harm the integrity of healthcare data and cause unrecoverable loss.

Mitigate breaches

Malicious actors in the healthcare industry target the data the most that hold more monetary value, like Personal Health Information (PHI) which is higher in demand and provides greater incentive to threat actors.

What are the most targeted healthcare data

Personal records related to a patient’s health and identity are the most vulnerable, following credit card details as the next most targeted data for attackers.

Personal Health Information (PHI)

PHI data in the healthcare industry receives the most threats for its greater competitive and monetary advantages.

Personally Identifiable Information (PII)

PII data involves direct monetary benefits and is the second most targeted data for threat actors.

Credit card credentials

The billing details get higher breaches for exposure of credentials, and monetary advantages for threat actors.

Unauthorized data breaches impact the healthcare industry with regulatory costs and loss of business trust.

What is the impact of unauthorized healthcare data exposure

Insider threats affect the healthcare industry with unrecoverable data loss and harm its business integrity.

Breach of regulatory compliance

Data attacks impact the regulatory compliance obligations of the healthcare industry, causing it to suffer the loss of business credibility.

Hefty non-compliance charges

Growing data attacks disrupt healthcare organizations’ obligations to observe regulatory compliance and invite hefty fines leading to harm the revenue.

Loss of business trust and reputation

Increasing data threat incidents severely hit the trust of healthcare services among clients and impact the reputation leading to loss of business.

Leverage wAnywhere compliance monitoring, trusted by leading organizations worldwide that achieve significant threat mitigation and +95% operational efficiency utilizing AI security and productivity management from the workforce analytics tool.

Healthcare industry

How wAnywhere AI security and compliance can help

Gain AI-enabled advanced threat intelligence for risk prediction and prevention before they cause damage.

Real-time activity monitoring

Keep track of employee activities in real time to measure how they work and whether their actions align or deviate from workplace regulations.

Behavioral and predictive analytics

Stay in sync with how employees behave at work and if their actions indicate suspicion to respond in real-time and eliminate risks before they grow into threats to cause damage.

Measure and manage workplace compliance

Enable and observe regulatory compliance at the workplace to align employee behavior with industry regulations for risk mitigation and workflow optimization.

Ensure industry regulations and operational efficiency

Observing employee behavior and responding to threats before they happen is the key to ensuring workplace compliance and operational efficiency. Unlock AI-powered security and compliance capabilities of wAnywhere desktop tracking software to stay ahead of threats. Start your 14-day free trial today and experience how the employee monitoring platform enables you to achieve firm control over rising insider threats for data loss prevention.