Encore: Cybersecurity and the Healthcare Industry - A Conversation with Clearwater CEO Steve Cagle
Mar 8, 2023
auto_awesome
Steve Cagle, CEO of Clearwater, discusses the impact of ransomware attacks on healthcare systems, highlighting the need for cybersecurity measures. Topics include vulnerabilities in hospital systems, financial implications of cyber attacks, and the role of CEOs in mitigating cybersecurity risks. Strategies for improving hospital cybersecurity are also explored.
Healthcare industry faces frequent ransomware attacks affecting patient data security and operational disruptions.
Hospital CEOs play a critical role in promoting cybersecurity awareness and implementing proactive risk mitigation strategies.
Deep dives
Ransomware Attacks on Health Systems
In 2022, Common Spirit, the second largest hospital chain in the U.S., was hit by a ransomware attack affecting over 600,000 patients. Analysis reveals that many hospitals in the U.S. faced ransomware incidents. 374 attacks occurred between 2016 and 2021, impacting 42 million patients. Steve Kegel highlights the attractiveness of healthcare data for cybercriminals due to its value for illegal activities like insurance fraud and identity theft.
Hospital Vulnerability and Cybersecurity Challenges
Hospitals are susceptible to cyberattacks due to historical underinvestment in cybersecurity. The rapid deployment of new technologies and outdated systems make hospitals easy targets. Ransomware attacks significantly disrupt hospital operations, leading to financial losses and increased patient data security risks. Patient safety is compromised, impacting treatment quality and outcomes.
CEO Leadership in Cybersecurity Resilience
CEOs can enhance hospital cybersecurity by fostering a risk management culture and engaging in governance committees focused on cybersecurity. Leadership plays a crucial role in setting a security-conscious organizational tone. CEOs are urged to lead by example, emphasizing the importance of cybersecurity awareness and proactive risk mitigation. Steve Kegel underscores the CEO's pivotal influence in driving cybersecurity efforts within hospital systems.
In 2022, CommonSpirit–the second largest hospital chain in the United States–was the target of a ransomware attack that hobbled operations at many of its 140 hospitals and exposed the private health information of more than 600,000 patients.
The attack on CommonSpirit was the largest ransomware attack in 2022 but it was hardly an isolated incident. One analysis found that up to 290 hospitals in the U-S were impacted by a ransomware attack last year. And a new study published in JAMA found that from January 2016 to December 2021, 374 ransomware attacks on US health care organizations exposed the private health information of nearly 42 million patients. So what can hospital systems do to better protect themselves and their patients?
On today’s episode of Gist Healthcare Daily, J. Carlisle Larsen is joined by Steve Cagle–CEO of Clearwater, a firm that provides cybersecurity, compliance, and privacy solutions focused on the healthcare industry.