Average cost of healthcare data breach reaches $11M, report finds

Healthcare is the industry most prone to data breaches, with average costs reaching nearly $11m in 2023, according to research by the Ponemon Institute, a 53% increase since 2020. These costs were nearly double those experienced by the financial industry, despite heavy regulation in the healthcare sector. The number of breaches has grown annually since 2009, with hospitals an attractive ransomware target.