Healthcare is one of the highly regulated industries across the globe. Still, it remains one of the top contenders of non-compliance and data breaches. Thus, the industry has paid hefty penalties.
In this article at ET CIO.com, Filip Cotfas explains that healthcare organizations have a valuable collection of highly sensitive data that has gained hackers’ attention. Moreover, outdated data storage systems made it easier for cybercriminals to make swift moves.
The Brunt of Cyber Breach
According to a 2019 Cost of a Data Breach report by the Ponemon Institute and IBM Security, the average of each healthcare data breach is worth $6.45 million. No wonder, the healthcare industry possesses the highest value data breach of any sector and needs maximum attention to safeguarding data. So, here are three significant areas that need attention to ensure data protection strategies work successfully:
Before strategizing cybersecurity initiatives, the healthcare institutions must know where the confidential data is and who all can access it. Post that, the healthcare institutions can diligently monitor the data through a pragmatic cybersecurity framework. The organizations can maintain compliance through the high-efficiency data protection tools like Data Loss Prevention (DLP) solutions. It allows healthcare providers to classify sensitive data and restrict their usage and transfer through predefined legislation policies. The DLP solutions assist in locating the network while enabling remedial actions like encryption or deletion in unauthorized cyberspaces.
Data Breach Response Plan
A useful data protection framework can avert about 97 percent of data breaches. However, sound planning and execution can bring positive developments. Only a rational data breach response plan can help ensure employees are ready to combat any cybersecurity incident when it occurs. A well-strategized cybersecurity plan not only helps mitigate the harm but also saves a lot of money for the industry growth.
Third-Party Security Compliance
Often healthcare institutions with highly secured cyber frameworks fail to protect confidential data due to a shortage of smart vendors. So, it is crucial to keep in mind that organizations collecting data and sharing with the third-party vendors for further processing are liable for data breaches. To bridge the compliance gap here, the healthcare institutions must demand proof of sound data security systems from their vendors before transferring data to them for processing.
Click on the following link to read the original article: https://cio.economictimes.indiatimes.com/news/digital-security/3-data-protection-tips-for-healthcare-industry/74370037