Average cost of a healthcare data breach sits at $9.77M

The average cost of a healthcare data breach fell by 10.6% in 2024 to $9.77 million, although it remained the costliest industry for breaches for 14 years, according to IBM’s annual “Cost of a Data Breach Report 2024.” Globally, the cost of breaches across all industries rose by 10% due to higher costs associated with business disruption and post-breach response. The report revealed a growing cybersecurity skills shortage and highlighted the cost-saving potential of using AI and automation, and collaborating with law enforcement.