Healthcare News & Insights

Report: Cost of protecting patient data on the rise

We reported recently on the increasing costs of health data breaches. Now, a new report says organizations will have to spend more to keep health data safe. 

As the cost of responding to a data breach increases, healthcare organizations are also spending more to prevent those expensive breaches. Healthcare data security spending is expected to reach a total of $40 billion this year, according to a report from Princeton, NJ-based consulting firm The Boyd Company.

That’s an increase of 22% compared to last year. Spending also isn’t expected to slow down any time soon, as Boyd expects levels to reach $70 billion three years from now.

However, some organizations will foot a larger bill than others. The report breaks down data security costs by city, with facilities in New York, San Francisco and Los Angeles expected to spend the most to protect patient health data. The bottom of the spending list consists mostly of cities in South Dakota, Florida and Oklahoma.

To learn more, read The Boyd Company’s report.

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