DUBLIN, Feb. 23, 2021 /PRNewswire/ — The “US Healthcare Cybersecurity Market, 2020 – Frost Radar Report” report has been added to ResearchAndMarkets.com’s offering.
The US healthcare cybersecurity market is poised for aggressive growth after the COVID-19 pandemic ends.
The impending challenges related to the top 5 cyber threats (phishing attacks, credential harvesting, ransomware, social engineering attacks, and information theft or loss) will drive a higher spend on progressive cybersecurity solutions across infrastructure, applications, networks, cloud, and the Internet of Things (IoT).
More than 90% of all healthcare organizations reported at least one security breach over the last 3 years in the United States. As a result, robust cybersecurity has become a top priority of C-level healthcare executives regardless of business type, size, orientation, or affiliation.
Some 91% of all US-based provider CIOs had already identified cybersecurity as a major strategic focus in 2019. Yet in 2020, evidence of security breaches across the United States suggests that most healthcare stakeholders are still unable to prevent cyberattacks (external or internal) that have the potential to cause malfunctions of critical systems and devices involved in day-to-day clinical, financial, and operational decisions. Further, 61% of US-based healthcare businesses acknowledged that they lack effective mechanisms to ensure cybersecurity at an organizational level.
During the COVID-19 pandemic, the matter worsened as hackers started to target virtual care platforms, clinical trial database, remote patient monitoring devices, diagnostic systems, and ICU ventilators that historically were relatively more vulnerable to security threats that involve phishers, cybercriminals, and negligent/malicious insiders. Such attacks have a direct impact on patient safety and the integrity of the healthcare businesses responsible for it.
Poor cybersecurity is bad for business as well. Most hospitals spend, on average, 64% more on general advertising in the year after a data breach. Cyberattacks on revenue cycle management platforms disrupt claims management processes and reduce the cumulative quality rating or STAR ranking, which ultimately result in reduced reimbursement and a lower patient footprint: a double whammy for providers.
Key Topics Covered:
1. Strategic Imperative and Growth Environment
- Strategic Imperative
- Growth Environment
- US Healthcare Cybersecurity Market, 2020
- Competitive Environment
3. Companies to Action
- Amazon Web Services (AWS)
- GE Healthcare
- IBM Security
- LexisNexis Risk Solutions
- Palo Alto Network
- Philips Healthcare
- The Herjavec Group
3. Strategic Insights
4. Next Steps: Leveraging the Radar to Empower Key Stakeholders
- Significance of Being on the Frost Radar
- Empowers the CEO’s Growth Team
- Empowers Investors
- Empowers Customers
- Empowers the Board of Directors
5. Radar Analytics
- Benchmarking Future Growth Potential
For more information about this report visit https://www.researchandmarkets.com/r/fjx9z4
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets