The Health Insurance Portability and Accountability Act (HIPAA) sets the standard for sensitive patient data protection. HIPAA is a US regulation which stands for Health Insurance Portability and Accountability Act (HIPAA). In the UK and the NHS, we call it the Data Protection Act.
Companies that deal with protected health information (PHI) must have physical, network, and process security measures in place and follow them to ensure HIPAA/Data Protection Act Compliance.
Covered entities (anyone providing treatment, payment, and operations in healthcare) and business associates (anyone who has access to patient information and provides support in treatment, payment, or operations) must meet HIPAA Compliance.
From 2018 to 2019, health record breaches rose from approximately 14 million to more than 41 million. When a cyber-attack is successful, patients and healthcare providers become vulnerable as sensitive health data is breached.
Software applications are becoming an increasingly significant part of the attack surface, and unprotected software applications can be reverse engineered to disrupt a platform that delivers vital care. Protecting software running on medical devices should now be the top priority for all connected device makers and telehealth providers.
Stealing health records is a lucrative business for cyber-criminals: they can be sold on the dark web for close to £1,000 – 200 times the black-market value of financial records. This makes health records the most valuable type of records being traded by criminals, since they provide a comprehensive and complete picture of a person’s health background and identity. Cyber-criminals can then harvest this information and sell them to forgers, human traffickers, terror organisations, hostile countries, drug cartels and other criminals.
With these statistics in mind, CTO can tailor solutions to protect software and medical devices from cyber-attacks, meet HIPAA/Data Protection Act regulatory requirements and protect patient safety. CTO can help organisations devise cyber security strategies that protect patient data and stop hackers from breaching the network.