Healthcare breach costs hit record high

Healthcare breaches in the US cost an average of $10.1m, making it the costliest industry for breaches for the 12th consecutive year, according to IBM X-Force’s Cost of a Data Breach Report. Healthcare organizations also have the longest cycle for identifying and containing breaches, taking nearly 11 months on average. The value of healthcare records on the dark web is higher due to their static nature, and the costs associated with breaches are often passed on to consumers in the form of higher prices. Healthcare organizations are advised to invest in security and develop incident response plans to mitigate the impact of breaches.