Cybersecurity: Guiding Principles and Risk Management Advice for Healthcare Boards, Senior Leaders and Risk Managers

Abstract

In recent years, the average cost of healthcare-related data breaches increased from approximately US$7 million in 2020 to over US$9 million in 2021. Moreover, breaches in healthcare have been consistently more costly than in other sectors for 11 consecutive years. With the frequency and costs of cyberattacks expected to rise, healthcare organizations must carefully plan for and identify strategies to mitigate cyber-related risks. This paper provides practical guidance for boards, senior leaders and risk managers in the development and implementation of organization-specific cybersecurity measures, with a focus on the identification, mitigation and management of risks.

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“…Risk-taking leaders drive the change necessary to achieve progress and innovation (Gurd & Helliar, 2017). They not only dare to take decisive steps in difficult situations, but are also ready to try new approaches, overcome obstacles, and pursue opportunities that may arise (Dixit et al, 2023). In moving the nation forward, risk is an integral part of development.…”

From the Editors

“…Cybersecurity is no longer something that can just be left to the information technology experts. Dixit et al (2023) present a very useful principles-based approach to addressing cybersecurity risks that will be a source of guidance to those at all levels of a healthcare organization. It offers a starting point for anyone looking to improve organizational cybersecurity.…”