Meticulous Research released a market research report “Healthcare Cybersecurity Market”, that indicated a number that anyone in healthcare would want to be aware of. They expect that by 2027 – which sounds far off but is NOT – the cybersecurity market within healthcare will reach $26.1billion with a compound annual growth rate (CAGR) of 19.8%
This means that the risk of your healthcare business is affected by a breach is expected to increase. This should come as no surprise since we have witnessed a steady rise every year, and the global pandemic only amplified that risk and rise. What also needs to be taken into consideration is whether or not the available workforce and technology features will be able to meet the needs of these rising demands. Will there be enough professionals to take on the challenge of protecting organizations within healthcare? The specialization of that person will also need to understand the specifics of health and patient care, HIPAA, as well as technology and the cyberthreat landscape.
Should you wait until the demand is even higher and start to look for the right person, vendor, partner, or protection? An obvious “NO” should be your response.
The threats will become more complex, their occurrence will be more frequent, and the advancement of technology are all to be considered as well.
HIPAA compliance is not cybersecurity. This cannot be emphasized enough. They work together to protect your healthcare business, but they do not do the same thing. HIPAA is government-regulated, and cybersecurity adheres to different rules and regulations. A cybercriminal doesn’t abide by either. And since they can be found in or outside of the United States but have as much access as if they were working from the very desk chair that you’re sitting in, there isn’t a federal law that might protect you. We often don’t even know where they are located. We must educate ourselves and our coworkers to ensure that we are safely using all of the technology that is in place in healthcare from document management systems to healthcare equipment, and it must be done in a way that adheres to guidelines that will keep the business and the patients safe.
If you aren’t sure if you are on track to keep up and get ahead of both HIPAA and cybercrime, we can help you to assess the situation today.