Average cost of healthcare data breach rises to nearly $11M

The cost of healthcare data breaches has grown to an average of $10.93m, an 8% rise YoY, says IBM Security. This is more than double the average breach cost across all sectors at $4.45m. Healthcare data breach costs have soared 53% since the Covid-19 pandemic hit. The issue is exacerbated by the lack of cybersecurity talent in healthcare organizations, mostly due to low pay compared to other sectors. Working with law enforcement authorities during a cyber-attack, however, could save an average of $470k per breach.