The original article appeared on the Texas Hospital Association's website
This article is sponsored by Celerium. Celerium Inc. engineers automated data breach detection and containment solutions that are easy to implement and manage with minimal IT effort.
As the health care landscape becomes increasingly challenging, hospital executives face dual pressures of financial instability and the rising threat of data breaches. The potential for data breaches to erode patient trust, disrupt operations, and impose significant financial burdens adds a layer of complexity to hospital management.
The Growth of Threats and Stress
The stress for hospital executives grows each day. There are current estimates of 700 to 800 rural hospitals potentially closing due to financial insolvency over the next few years. The challenges of service delivery, regulatory compliance, and maintaining patient trust and brand reputation are all-consuming.
Data breaches can be debilitating to hospital leadership, management, and IT. Of course, the potential erosion of patient trust and brand reputation when a criminal threat actor steals millions of patient HIPAA PHI records is very painful. Worse is the potential to impact hospital systems, causing diversion and other patient safety issues. Layered on top of these issues are the extra financial burdens, including the cost of recovery and potential HHS/OCR Regulatory fines and/or class action lawsuit settlements, not to mention the possibility of increased cyber insurance premiums in future years.
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