Healthcare Cyberattack Surge Putting Financial Pressure on Organizations

The rise in hospital and health system cyberattacks is adding to the financial pressures many organizations are still facing due to the COVID-19 pandemic, Becker’s reports.

According to John Riggi, the national adviser for cybersecurity and risk at the American Hospital Association, 2023 is set to have more widespread attacks than 2022, as healthcare facilities have faced 266 digital incursions affecting 36 million individuals this year.

Cyberattacks on hospitals have also tripled in the past five years and are increasingly becoming more sophisticated.

These attacks are costly, and come at a time when hospitals and health systems are dealing with slimmer margins, higher costs and staffing shortages.

Several hospitals and health systems have faced financial repercussions due to data breaches and cyberattacks.

For instance, Chicago-based CommonSpirit upped its current estimate of losses stemming from a cyberattack in October to $160 million when it released first-quarter results May 15. Read more.

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