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

Healthcare remains the most expensive industry for data breaches for the 13th consecutive year, with breach costs almost double that of financial industry breaches. Research by the Ponemon Institute and IBM Security showed the average healthcare data breach cost reached nearly $11 million in 2023, up 8% from 2022 and a 53% increase since 2020. Healthcare’s vulnerability increased after the COVID-19 pandemic led to staff shortages and burnout.