Healthcare Data Breaches: A Costly Problem

Average Cost of $98 Million in 2023

Decline from Previous Year, but Still Highest Among Industries

Healthcare organizations have long been targets for cyberattacks, and the cost of these breaches continues to rise. In 2023, the average cost of a healthcare data breach was $98 million, a nearly 11% decline from the previous year. However, healthcare remains the most expensive industry for data breach response and recovery, with costs averaging more than twice that of other sectors.

The high cost of healthcare data breaches is due to a number of factors, including the sensitive nature of the data involved and the complex regulatory landscape. Healthcare organizations are required to comply with a variety of federal and state laws that protect patient privacy, and these laws often impose significant penalties for data breaches.

The decline in the average cost of healthcare data breaches in 2023 is likely due to a number of factors, including increased investment in cybersecurity by healthcare organizations and the growing use of cloud-based security solutions. However, despite the decline, the cost of healthcare data breaches remains a significant concern for healthcare organizations.