Why Hackers Target Patient Data: US Healthcare Data Breaches Explained

The rising number of US healthcare data breaches is concerning. If we don’t prioritize acting against data breaches now, then the problem is only going to become worse.  

Insensitive patient information is always exposed to the risk of unauthorized use. However, when something like this happens, healthcare providers face repercussions such as legal action and reputational damage.  

US healthcare data breaches have become common, with around 700 cases annually. Companies like Kaiser Foundation Health Plan and Nations Benefits have faced adverse data breaches. That is why we must understand the reasons why hackers target patient data.  

In this blog, we will cover the topic of data breaches, the effects of US healthcare data breaches, and how you can prevent unauthorized access to sensitive patient information.  

Let’s start by analyzing data breaches!  

Breaking Down US Healthcare Data Breaches  

When cyber actors are successful in stealing sensitive patient information, it is referred to as a data breach. The theft involves the patient’s personal information, their medical data, and financial details.  

The intention behind such cyberattacks is to gain hefty amounts. Once the data is stolen, the cyber actors may sell it further, resulting in identity theft and fraudulent practices.  
 Here are some reasons why hackers target patient data:  

Financial Gain 

Hackers can sell patient data (personal and financial information) on the black market. Medical records have a high value because the data can be used for identity theft and extortion.  

Identity Theft  

Cyber attacks give hackers access to patients’ personal information like social security numbers, driver’s license numbers, and passports. They can use this data for identity theft to extract money.  

Extortion of Patients  

Cyber actors can use the information to blackmail patients and extort hefty money from them.  

Billing Fraud  

Another way to misuse sensitive data is indulging in billing fraud. This involves utilizing insurance information to file false claims and acquiring revenue.  

Ransom Demands  

Cyber actors can also directly demand huge financial gains from the healthcare provider or practice after stealing important information.  

Impact of US Healthcare Data Breaches on Healthcare Practices  

It’s not only patients who suffer from data breaches, but also healthcare providers and practices.  

Here’s how data breaches affect healthcare practices:  

Financial Loss  

Once there is a data breach, healthcare practice has to do everything in their power to protect the patient’s information. Hackers may demand hefty amounts from healthcare providers to spare the information.   

Legal Penalties  

All healthcare providers and practices must comply with HIPAA to protect sensitive patient data from cyberattacks. Upon failing, healthcare providers and practices are subject to legal consequences.  

Reputational Damage  

Once there is a data breach, patients lose trust in the healthcare practice. Healthcare practice may suffer reputational damage, and this will affect their revenue cycle management.  

How Can Healthcare Practices Avoid Data Breaches?  

Healthcare providers and practices can follow some vital steps to avoid US healthcare data breaches.  

Here’s what you can do as a healthcare provider:  

• Evaluate your systems regularly and try to stay proactive so that you can detect potential data breaches.  
• Ensure the usage of strong and unique passwords to protect sensitive information. Also, don’t forget to change your password frequently.  
• Elevate your cybersecurity by enabling two-factor authentication. Also, implement other important security, privacy, and network controls.
• Update your systems regularly and correct vulnerabilities as soon as you find them.  
• Invest your time and resources in conducting frequent cybersecurity audits and proper risk assessment.  
• Train your staff to navigate through complex cybersecurity tools and give them adequate phishing awareness.  
•  Enforce strong access controls and restrict access to sensitive information.
• In case a cyber-attack happens, focus on initiating the data breach response immediately to prevent some of the damage. 
• Partner with a cybersecurity specialist and prepare a solid safety framework for your healthcare practice.  

Conclusion  
If you want to move a step ahead of the cyber-actors and prevent your patient’s sensitive information from misuse, then choose a cybersecurity partner.  

Cyber Cops is here to help you with HIPAA compliance so that your healthcare practice is always safe from US healthcare data breaches. We understand the cyber world inside out, offering you best-in-class cyber support.  

Our compliance solutions help you strengthen security, privacy, and network controls for ultimate cybersecurity. Our services include IT security audit, data protection, compliance assessment, IT infrastructure security, SOC, email security, and VAPT.  

Place your trust in our premium services, and we will ensure the utmost safety of your patient’s sensitive data. So, stay away from US healthcare data breaches with Cyber Cops.