2015 is just around the corner, and so are significant protected health information breaches.
The risk of a data breach is higher than ever, according to Experian’s second annual industry forecast. The report shows the high value of protected health information (PHI) on the black market.
What does this mean?
It means that costly breaches should be anticipated, and practices should get prepared. The Experian report estimated that the potential cost of expected breaches for the healthcare industry could be $5.6 billion annually.
What trends can your practice expect to see in 2015?
The anticipated 2015 breach trends, according to Experian:
- Hackers will target cloud-based data, with an increase in breaches of consumer usernames and passwords;
- Scrutiny of corporate leaders and their ability to respond to breaches will increase in the form of legal and regulatory action;
- Employees and internal threats are expected to increase; and
- Data accessed from third-party vendors will likely lead to increased cyber attacks.
Now that you are aware of the expected trends, there is no excuse to leave your practice vulnerable. We stay on top of breach trends, and we help our clients get prepared for anticipated breaches by developing thorough procedures and practices.
Healthcare data is the perfect target.
As access to protected health information expands through the use of electronic health records, so does the vulnerability of the information and the attractiveness to criminals.
Also, many doctors do not have adequate resources to safeguard patients’ PHI, resulting in more vulnerability.
Medical identity theft is a trend that will continue into 2015.
There have already been 1.8 million U.S. victims of medical identity theft. Hackers have gained both medical services and drugs. They have also defrauded private insurers and government benefit programs.
In our next blog post, we will keep you informed of related issues. To get this important information delivered directly to your mail box, click here to Subscribe
Do you need help preparing your practice for anticipated breaches? We can help. To contact us about your breach readiness, performing a risk assessment, your HIPAA policies and procedures, or your other legal needs: CLICK HERE.
P.S. If you or your patients are interested in consumer healthcare issues, check out myhealthspin.com.