Still underinvesting in cybersecurity? It’ll cost you $408 per patient record

Healthcare data breaches cost the sector $408 per patient record, three times more than any other industry, according to the Ponemon Cost of a Data Breach Report. The financial sector landed at number two, but its breaches cost only $206 per consumer. Data breaches cost organizations $3.86 million, up 6% from last year, with cyberattacks and malicious insiders costing about $157 per record. Mean time to identify a breach was 197 days and a mean of 69 days to contain a breach. Incident response speed has a major impact on the overall cost of a breach.