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Data Breaches Cost Healthcare $6.5M, or $429 Per Patient Record.
Breach costs are rising, with healthcare spending more than all other sectors for the ninth consecutive year at $6.5 million on average, an IBM-sponsored Ponemon Institute report shows.
Data breaches cost the healthcare sector an average of $6.5 million, over 60 percent more than all other sectors, according to a Ponemon Institute report, sponsored by IBM. Other sectors spend about $3.9 million, on average.
Ponemon researchers interviewed 500 global organizations that experienced a data breach in the last year. The researchers found for the ninth consecutive year the healthcare sector is still the hardest hit financially by data breaches.
The costs are directly related to legal, technical, and regulatory functions, including patient notifications, breach detection and response, and lost business caused by reputational damage, loss of consumer trust, and downtime.