As we discussed in our last post, the healthcare industry is being relentlessly targeted by a range of cyberattacks due to the inherent value of the sensitive data it collects, processes and stores. These attacks not only put extreme financial pressure on the industry, but also create daunting risks to patient privacy and health.

Federal officials recently issued an alert warning healthcare organizations about an ongoing ransomware campaign that is compromising patient safety and forcing hospitals to divert ambulances, cancel surgeries, postpone appointments and close urgent care units. The campaign has victimized more than 1,300 healthcare organizations and generated more than $100 million in ransom payments over the past 18 months.

From X-rays and stethoscopes to robotic surgeries and wearable monitors, technology innovations have always played a critical role in helping healthcare providers improve patient outcomes while reducing costs. It’s why healthcare organizations around the world are nearly unanimous in their commitment to digital transformation initiatives that can drive new efficiencies.

Risk management is vital to any organization but especially important in healthcare. Business and clinical leaders must continually identify and evaluate risks to minimize the chance of injury to patients, staff and visitors. Healthcare organizations must also consider financial and reputational risks and establish processes for responding to incidents and controlling damage.