Security News > 2020 > March > 54% of healthcare vendors have experienced a data breach of protected health information

More than half of all healthcare vendors have experienced a data breach that exposed protected health information, and it's a costly problem that points to broken third-party risk assessment processes, according to data released by the Ponemon Institute and Censinet.

The report shows that 54 percent of healthcare vendors have experienced at least one data breach of protected health information belonging to patients of the healthcare providers they serve.

54 percent of healthcare vendors believe that a single data breach would result in lost business and revenues from the healthcare providers they sell to, while 28 percent of vendors say that healthcare organizations have chosen another service or solution after they discovered gaps in the vendor's privacy and security practices.

Nearly half of healthcare vendor respondents said that providers do not require any action to be taken if they discovered gaps in vendors' privacy and security practices and policies, and 42 percent say that providers do not require proof that the vendor complies with privacy and data protection regulations.

According to the research, 55 percent of vendors say that risk assessments required by healthcare organizations are costly and time consuming, with vendors spending an average of $2.5 million annually to fill them out.

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