Records Management: The First Line of Defense for the Healthcare Sector Against Data Breaches and Cybercrime

There has been a surge in cybercrime in 2020 due to the pandemic, and all sectors experienced their fair share of data breaches. However, according to a report, the healthcare sector in the United States experienced a staggering 51% increase in data breaches compared to the 2019 figures. Although the healthcare sector's total share of data breaches is still significantly low compared to the IT and finance sector, the average cost of a breach in healthcare stayed higher than that of all other industries in 2020 and increased 10.5% since 2019.

As alarming as it is, the healthcare sector is incredibly ill-positioned to withstand network outages, making it a perfect target for ransomware groups. But this sector was not particularly hard impacted until 2019, as these facilities do not have the financial resources to pay the vast ransoms that cybercriminals seek. While the fundamental reasons for breaches can be difficult to pinpoint, the study suggests that a failure to vulnerability patching coupled with the rising black-market value of medical records may be driving the growing criminal interest in the sector.

Causes of Data Breaches in the Healthcare Sector

Personal health information (PHI) is more valuable than credit card credentials or regular personally identifiable information (PII) on the black market. As a result, cybercriminals have a greater incentive to target medical databases. They can either sell the PHI or use it for their benefit. According to the health and human services breach report, over 15 million health records have been compromised by data breaches so far. Credential-stealing malware, an insider who deliberately or mistakenly reveals patient data, or stolen laptops or other devices are all examples of occurrences that might lead to this.

Cost of PHI in the Black Market

The average cost of a data breach for a non-healthcare organization is $158 per stolen record, but a PHI's average price is $355. According to the recent McAfee Labs report, credit card information and PII sell for $1-$2 on the black market, whereas PHI may sell for as much as $363. This is because, unlike credit card information or Social Security numbers, one's personal health history, including diseases, sicknesses, surgeries, and so on, cannot be changed.

PHI is significant because criminals may use it to target victims with frauds and scams based on the victim's medical problems or settlements. It may also be used to fabricate insurance claims, enabling the purchase and resale of medical equipment. PHI is also used by certain criminals to get illicit access to medications for personal use or resale.

Regulations for Healthcare Records

The Health Insurance Portability and Accountability Act (HIPAA) mandates that healthcare providers preserve electronic health records (HER)s with appropriate physical and technological measures to maintain the security of patient data. Breaches of over 500 records must be notified, whether they result from a hacking event, an accident, lost or stolen equipment, or illegal internal access and ransomware infections.

The way forward

The only way forward from this would be for the healthcare organizations to prioritize and fix the vulnerabilities that are most certainly targeted by coordinated ransomware attacks and implement a regular check-up and patching program. Some other measures that the healthcare sector organizations can take are:

Comprehensive Employee Training Programs

While some breaches are caused by sophisticated hacking, others are caused by inexperienced personnel mishandling PHI. Therefore, a comprehensive employee training program for those who interact with health records during the data lifecycle must be a top priority for all healthcare organizations.

Boost Data Protection

Patient records must be safe from the moment they are created until they are destroyed. Electronic documents should have a thorough audit trail when in use, and paper records should be securely stored in a place with limited access while not in use. Offsite records should be kept in approved and secure facilities. All paper and electronic documents should be securely destroyed using NAID-certified techniques at the end of their life cycle.

Conduct self-audits

HIPAA performs frequent and thorough audits to verify that adequate safeguards for patient privacy are in place. Organizations should also implement their own performance and compliance monitoring and frequent self-audits to guarantee compliance and prevent fines.

Streamline Procedures

Maintaining compliance with complicated state and federal rules is complex, and the medical sector leaves minimal space for human mistakes. A unified medical records management platform may enhance accuracy, ensure consistency, and safeguard patients by automating critical and time-consuming operations.

Medical Records Management

Patients and doctors are both in danger when health records aren't safeguarded. Fortunately, there are several actions that businesses may take to protect themselves and their customers. Medical organizations may secure themselves by taking a proactive approach to information governance, data security, and investing in a centralized, complete medical records management software.

Conclusion

Most individuals invest in medical insurance so that they can be prepared for whatever comes their way. Similarly, a medical organization should also invest in comprehensive information management, security, records management systems and specific HIPAA compliance software to be prepared for whatever comes their way.