Data breaches are becoming more costly across all industries, with healthcare in the lead.
The 2023 Cost of a Data Breach Report analyzes data collected from March 2022 to March 2023. Healthcare remains a top target for online criminal groups. These data breach costs are the highest of any industry and have increased for the 13th consecutive year.
Healthcare is a highly regulated industry that the U.S. government considers critical infrastructure. As such, recent federal privacy standards, security standards and regulations developed specifically for healthcare intend to improve the overall security of healthcare entities while protecting patient data. In the face of rising costs and persistent threats, the healthcare industry must continue to innovate.
Data breaches in the healthcare industry pay a high price
A healthcare data breach is among the costliest types of data breach. The average cost of a data breach across industries was $4.45 million, yet the average cost of a healthcare data breach was the highest among all industries at $10.93 million. Healthcare has seen a significant cost increase of 53.3% over the past three years.
Personal data remains a valuable target in a healthcare data breach. Customer and employee personally identifiable information were the top two stolen data types, followed by intellectual property, anonymized personal information and other corporate data such as earnings information and client lists.
Data stored across multiple environments consisted of the highest percentage of breaches, with the highest total cost compared to other singular storage methods (public cloud, private cloud, on-premises). The time required to detect and contain a data breach averaged 291 days when data was stored across multiple environments.
Phishing moved into the top spot as the most used initial attack ..
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