Data breaches are increasing in frequency and posing serious threats to security. The healthcare industry has been especially affected by the increase in data breaches since healthcare providers store such sensitive and important information. When the internet security of a healthcare organisation is compromised there can be lasting damages to reputation as well as monetary consequences. If the consequences are so severe for data breaches in the healthcare industry, why do they happen so often?
There are many security vulnerabilities in healthcare mostly due to outdated technology. Old medical devices are made by companies that are no longer even in business. Some of these implanted and inter-connected devices are hackable and old software has gaping security holes. Human errors in using old devices can also increase the risk of security breaches. Many hospitals aren’t even aware of which systems run on the devices that they are using and lack full-time employees to ensure that the systems are running smoothly.
Another reason that security breaches are so common in the healthcare industry is due to the lack of trust between cybersecurity experts and doctors. Providers are often more concerned with protecting patient privacy rather than cybersecurity even though breaches of cybersecurity put patients privacy directly at risk. Providers also lack resources and awareness because they simply do not have the same skills as cybersecurity experts. Oftentimes these experts will create patches to fix old problems, but providers believe they are exaggerating the issues and so they delay installing the fixes causing even more problems to arise.
The rise in data breaches has monetary and reputational consequences for healthcare organisations. On average data breaches cost US$6.5 million, that’s about US$429 per patient record that is affected! Sixty-seven per cent of the costs are incurred during the first year after a breach, but the costs don’t end there. For years after an initial breach healthcare organisations can continue to pay legal, technical, and regulatory fees. Business is also affected since patients lose trust in their healthcare providers and stop coming to them for healthcare services.
It is no secret that the information that is held by healthcare providers is important, and so the security of this information should be a top priority. With the rise in hackers and data breaches, this information is becoming more and more difficult to keep protected. So what is the solution?
Many healthcare providers are making the transition to healthcare on the blockchain. The blockchain is a distributed ledger for recording transactions and tracking assets and has many promising applications in healthcare. One of these applications is wearable remote monitoring devices. These devices can monitor things such as blood pressure, pulse, or seizure activity and can be monitored by healthcare providers remotely. These devices are then attached to a patient hub that contains all of a person’s health records available for easy access by both patient and doctor. These devices are very simple to use, leading to fewer human errors along with their added security benefits. The fact that patients have access to their files also means there is higher transparency and the audit trail allows for easier ways to track who is viewing information.
Other applications of the blockchain are useful in telehealth– remote healthcare services– which grew in popularity over the course of the pandemic when stay-at-home orders were put in place. Blockchain in telehealth means an easier exchange of data, increased consumer confidence in the system, and copies of data ledgers that are given to both doctor and patient. The use of NFTs (non-fungible tokens) is also useful in telehealth since doctors can have more confidence that they are receiving genuine data from their patients.
Companies are exploring the use of healthcare on the blockchain and are reporting overall better productivity since making the switch. Some companies use blockchain to secure real-time messaging between their clients or patients and hold negotiations and contract discussions without fear of their sensitive information being leaked to third parties. Others use the blockchain to help in data collection and analysis. In fact, blockchain data analysis was used in order to report changing statistics regarding the spread of COVID-19 during the pandemic and the information was crucial in helping healthcare providers prepare for incoming patients.
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Overall, patients want to be able to trust that their medical information is in safe hands when they visit their doctors’ office whether in person or virtually. Seeing the rise in data breaches due to third-party hacking, the switch to healthcare on the blockchain is the solution to healthcare security leaks. Learn more about healthcare on the blockchain in the infographic below:
Infographic Source: Online Medical Services
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