Rising concerns over cyber security and data breaches are affecting the entire planet. This is particularly the case since the COVID pandemic opened more vulnerabilities for cyber criminals to access sensitive information. Every industry is getting hit hard, and this is no less evident in healthcare.
On average, data breaches in the healthcare industry cost $6.5 million, which equals about $429 per patient record, but that’s certainly not the only cost. These data breaches also increase a hospital’s 30-day mortality rate, and the cost of a breach continues to be felt even into the third year following an attack.
Sadly, the healthcare industry has specific vulnerabilities that are highly attractive to cyber criminals. For instance, old medical devices are still in operation, even if the company that made them is no longer in business. The use of old software is also a common issue. Not only that, but medical implants or inter-connected devices are hackable.
One solution to these security issues is in the use of blockchain; a distributed ledger of transactions and assets. Blockchain is unhackable and can help the healthcare industry focus on both patient privacy and cybersecurity simultaneously.
Learn more about healthcare on the blockchain in the visual deep dive below:
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