Average Cost of a Healthcare Data Breach Increases to Almost $11 Million

The 2023 IBM Security Cost of a Data Breach Report reveals that the average cost of a data breach has risen to $4.45 million, with those in the U.S. costing an average of $9.48 million. Healthcare data breaches were the most expensive at an average cost of $10.93 million. Small organizations, those with fewer than 500 employees, saw costs rise to $3.31 million, while costs for very large organizations fell slightly to an average of $5.46 million. Phishing attacks and compromised credentials were the most common causes of data breaches.