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Jackie Drees by Becker’s Hospital Review
Hospitals and clinics continued to rack up the highest average data breach costs in 2020 at $7.13 million, up 10 percent since last year, according to IBM Security’s July 29 report.
For the IBM Security-sponsored 2020 Cost of a Data Breach report, the Ponemon Institute conducted interviews with more than 500 global companies that suffered a data breach in the past year. The report is based on interviews with more than 3,200 security professionals.
Five report insights:
- For the 10th consecutive year, the healthcare industry continued to incur the highest average breach costs among 17 industries, including pharmacy, technology, financial and industrial.
- At 329 days, the healthcare industry had the highest average time to identify and contain a breach. In contrast, the financial industry had the lowest average time to identify and contain a breach at 223 days.
- The data breach root causes breakdown for hospitals and clinics was 50 percent malicious, 23 percent system glitch and 27 percent human error.
- Fully deployed security automation helped companies reduce the lifecycle of a breach by 74 days compared to companies with no security automation deployment, from 308 days to 234 days.
- The U.S. continued to experience the highest data breach costs in the world at $8.64 million, followed by the Middle East at $6.52 million.