Healthcare technology brings new risks. Are you prepared?
Advances in technology have made new health and social care products and services possible which have the ability to improve your patient and resident care. But, these great benefits also bring a growing list of risks including cyber risk.
Working with large amounts of data can increase cyber threats to your business, risk factors include:
- Volume of personally identifiable information and health information stored on shared systems.
- Creation and transmission of Electronic Health Records (EHRs) and Personal Health Records (PHRs).
- Reliance on external service providers for payment processing and laboratory testing.
- Responsibility for risks posed by suppliers and third-party services.
Make sure that your healthcare business has appropriate risk management planning and care insurance in place to ensure you’re adequately covered. Without it, the risks and associated cost of implementing new technologies into your healthcare business, might be seen to outweigh the benefits.
Below are a few simple actions which could help protect your business against cyber threats:
Did you know that 47% of business technology professionals do not consider their organisations leader to be digitally literate?
Every member of staff, from doctors to administrators, play a role in keeping your organisation secure. But many are not aware of how their day-to-day activities might open the doors to a data breach.
Education for your staff is essential in protecting against CEO and dishonesty fraud. Your staffs’ knowledge on what to watch out for and the processes in place if there is a cyber-breach should be evaluated.
Create a cybersecurity policy
A good cybersecurity policy is essential in managing security throughout your organisation. Over 60% of providers don’t have an effective Identity and Access Management (IAM) policy in place, leaving them wide open to an external breach.
A good Cyber Liability policy should help protect your healthcare business by:
- Taking action
A good cyber policy will react as soon as a cyber-security incident is flagged. It should cover your liabilities on everything from media and data security to viruses and hacking.
Your cyber insurance should also cover any additional costs that stem from your initial liabilities. This includes the cost of customer notifications, credit monitoring and legal fees.
- Repairing the damage
In addition to hiring forensics to identify root causes of your security breach, a good cyber policy should also offer a cyber consultant to help mitigate damage to your business reputation.
- Carry out cyber threat assessments
A cyber threat assessment enables you to see how your staff are using applications. It not only helps ensure that cybersecurity policies are being followed, but improves compliance and patient data protection. You should also assess the potential financial cost of a cyber-attack, build a model to quantify costs of a data breach and create an assessment for loss arising from data loss.
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