Report: Data Breaches Cost $7B Annually

Ponemon Institute released its Third Annual Benchmark Study on Patient Privacy & Data Security, and found data breaches to be a problem that could be costing the healthcare industry $7 billion annually.

The report found 94 percent of healthcare organizations have suffered at least one data breach with medical files, billing and insurance records; 45 percent have had more than five in two years. Sixty-nine percent of respondents do not secure devices that hold patient information, such as insulin pumps.

Risks will increase as mobile and cloud technology becomes more prevalent.

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