New research by the Ponemon Institute and Censinet shines the spotlight on third-party risk in the healthcare industry. According to the report, the majority (56%) of healthcare organizations were at the receiving end of a data breach caused by one or multiple third-party vendors, costing the industry a total of $23.7 billion per year.
While the average health care data breach costs $2.9 million, hidden costs needed to manage third-party risk add another $3.8 million. Two main types of third-party risk in the sector are the reliance on third-party Internet-connected medical devices and cloud adoption. Almost three in four (72%) healthcare IT and security professionals consider third-party medial IoT devices a risk, while 68% say the same about cloud adoption that affects these devices.
Read more: Industry Insight: Checking Up on Healthcare Security
