According to a new report from the Ponemon Institute and sponsored by IBM, the cost of data breaches is trending upward, and Healthcare companies fared the worst of any industry with the average cost per stolen record reached a high of $363 in 2015.
The report went on to disclose that “In healthcare the cost of detection was high because many of these organizations were ill-prepared, both with the tools and expertise, to understand the root cause of the breach,” explained Larry Ponemon, chairman and founder of the Ponemon Institute.
“Post data breach costs were high because of regulatory disclosure requirements as mandated by HHS [U.S. Department of Health and Human Services] and OCR [Office for Civil Rights]. Healthcare organizations are also being targeted by malicious and criminal attacks because of the value of the information and knowledge that security is often not the best in these organizations.”
A projected 81% increase in overall healthcare demand due to population growth by the year 20203 will require data protection solutions that are scalable and can grow with your organization. Agile and cost-efficient Ciphertex solutions optimize healthcare IT performance while addressing growing data needs and securing patient privacy.
|Data Backup and Redundancy||Failure violates HIPAA 164.308(a)(7)(ii)(A) which is a required compliance measure with fines up to 1.5 Million||Reduction of risk exposure and gain the ability to access and find critical patient data when needed|
|Hardware based AES-256 bit encryption||Hardware encryption prevents cold boot attacks, malicious code, and brute force attacks – all hacking attacks which is the leading cause of data breaches in the healthcare industry7||Aid in eliminating the cost to resolve a breach can be 10 times as much as the breach8itself roughly up to 40 million dollars.9Faster performance and data transfer for data mobility and more efficient data storage methods.|
|Real-time remote replication||Real time or scheduled data backups happen in reduced time for better backup efficiency.||Business Continuity & Disaster Recovery minimizes risks and fines due to loss of data or inability to access data. Faster backups bring secure performance and optimization for an efficient and compliant best practice.|
|Scale-out and Scale-Up Data Growth Solutions||Scale-out up to 2 Petabytes and provision storage as needed and scale-up by daisy chaining or JBOD for storage space on demand.||Data storage growth on demand offers a cost efficient and smart method of handling unstructured data that grows at unpredictable rates.|