TRIMEDX Senior Vice President of Cybersecurity Scott Trevino recently contributed a piece in Medical Device News Magazine on the correlation between asset visibility, financial health, and cybersecurity risk.
Medical Device Cybersecurity: Medical device cyber risk is mounting while hospital financial pressures are rising. Although bolstering medical device cybersecurity defenses can require further investment, doing so also can lead to savings beyond the costs avoided by thwarting an attack — and in less obvious ways.
According to cybersecurity provider Check Point Research, global cyberattacks reached an all-time weekly high in the fourth quarter of 2021, with the healthcare industry sustaining an average of 830 cyberattacks per week. Healthcare cybersecurity is imperative as the costs of data breaches, reputational harm, and insurance premiums rise while patient safety remains the chief concern.
The proliferation of connected medical devices has heightened the potential risks. The global market of connected medical devices, such as cardiac event monitors and insulin pumps, is projected to reach a value of nearly $140 billion by 2028, a nearly 400% increase from its 2020 mark of about $27 billion, according to a report by Verified Market Research.