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Healthcare IT Security And Risk Management Study
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Cybersecurity in Healthcare: Why It’s Not Enough, Why It Can’t Wait
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Healthcare IT Security And Risk Management Study
1.
Cybersecurity in Healthcare: Why
It’s Not Enough, Why It Can’t Wait While cyberattacks and data breaches are rising across industries, healthcare is lagging behind in cybersecurity investment: Worldwide spending on IT security is projected to increase 34% from 2015 spend.1 $ 101B 2018 $ 75.4B 2015 The U.S. financial market is the largest market investing in cybersecurity, with a cumulative spend forecasted to exceed 68 billion between 2016-2020.2 68 billion Cybersecurity is approximately 16% of the federal IT budget for 2016.3 Total 2016 federal IT budget $ 86B$ 14B Cybersecurity In comparison, the healthcare industry averages are much lower, with less than 6% of their IT budget allocated to IT security.4 <6% Healthcare data is unique, which makes the privacy and security of it so critical: Criminal attacks, the number 1 root cause of healthcare data breaches, are rising.6 While credit cards can be canceled when lost or stolen, medical records can be compromised for years. Electronic health records sell for $ 50 per chart on the black market, compared to $ 1 for a stolen social security number or credit card number.5 WHY? Medical records contain most of the data hackers want, making them ideal for ONE-STOP STEALING.7 Weak cybersecurity makes electronic protected health information (ePHI) more vulnerable. 50% of survey respondents said 0-3% of IT budget is allocated to IT security.8 20% of respondents comply with key mandates only (HIPAA, HITECH). But neither regulation addresses significant changes in IT, including cloud and mobile, to properly secure ePHI.9 Medical device manufacturers are not mandated to incorporate cybersecurity features in their design and development.10 The 2016 HIMSS Analytics Healthcare IT Security and Risk Management Study reveals several gaps in the current state of healthcare cybersecurity: Healthcare organizations are not filling the gaps in security for medical devices: 50% of survey respondents are only beginning to address medical device security.11 Overcoming the disconnect by defining cybersecurity in terms of risk: Survey respondents ranked the importance of a cybsercurity strategy for their organization high, but ONLY 23% have an ongoing, consistent risk-management program.12 Throwing security products into your network is not the answer. Healthcare organizations need to understand cybersecurity in terms of risk. 5.0 Importance of Cybersecurity Strategy 4.23 References: 1 Cybersecurity Market Report, Q4 2015, Cybersecurity Ventures, http://cybersecurityventures.com/cybersecurity-market-report/ 2 U.S. Financial Services: U.S. Financial Services: Cybersecurity Systems & Services Market – 2016-2020, http://www.prnewswire.com/news-releases/us-financial-services-cybersecurity-systems--services-market--2016-2020-300172422.html 3 https://www.whitehouse.gov/omb/budget/ 4 The HIMSS Analytic Healthcare IT Security and Risk Management Study 5 FBI Cyber Division, Private Industry Notification, April 4, 2014, http://www.illuminweb.com/wp-content/uploads/ill-mo-uploads/103/2418/health-systems-cyber-intrusions.pdf 6 Fifth Annual Benchmark Study on Privacy and Security of Healthcare Data, Ponemon Institute, May 2015, http://www.ponemon.org/blog/criminal-attacks-the-new-leading-cause-of-data-breach-in-healthcare 7 Internet Security Threat Report 2015, volume 20, Symantec, http://www.symantec.com/security_response/publications/threatreport.jsp 8, 9, 11, 12 The HIMSS Analytic Healthcare IT Security and Risk Management Study 10 http://www.bloomberg.com/features/2015-hospital-hack/, http://www.fda.gov/RegulatoryInformation/Guidances/ucm070634.htm www.himssmedia.com | ©2016 Produced by IT security budget Cybersecurity Budget Total IT Budget COMPLIANCE IS NOT ASSURANCE. These 5 steps can help your organization move from a reactive to a sustainable, business-driven approach: $ 50$ 50 $ 1 $ 1 SSN123-45-6789 125% growth in 5 yrs 1 COMPLY with key mandates; base security controls 2 STAY AHEAD of threats 3 Let risk assessment DRIVE priorities 4 IMPLEMENT a sustainable risk-management program 5 Let business priorities ADVANCE the security strategy Find out how you can build a proactive cybersecurity strategy at www.symantec.com/healthcare &
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