Over the past three years, most healthcare data breaches were the result of lost or stolen devices, not hacking (only 23 percent). For records breached, 76 percent were the result of a loss or theft.
The 2014 Healthcare Breach Report, from Bitglass, shows that nearly half of all data breaches reported in the U.S. are healthcare related, which is not good for consumers. Recent studies have shown that healthcare data is 50 times more valuable than credit card information on the black market. Unlike fraudulent charges made on stolen credit cards, which can be cancelled, compromised protected health information (PHI) is the responsibility of the patient.
In addition, as more retailers and banks support the switch to chip-and-PIN technology, stolen credit card information will be further devalued, making healthcare data even more attractive for hackers to target.