Healthcare Cybersecurity & The Challenges Ahead With Industry Expert Richard Staynings

TD Cowen Insights

Episode Recorded On 06/26/24

In this episode we take a deep dive into cybersecurity in the healthcare system. According to HHS, over the last ten years, the number of reported healthcare data breaches have consistently trended upward. The 734 reported breaches in 2023 is nearly double what was seen in 2018, and collectively these breaches are impacting a higher proportion of the US population each year. Ransomware attacks on U.S. healthcare organizations have cost the economy around $77.5 billion in downtime since 2016, according to an analysis by technology review and cybersecurity research firm Comparitech. Two recent cyberattacks, Change Healthcare and Ascension, are just the latest high-profile large-scale attacks that have impacted financial results for a number of companies, but also has had an impact on patient care. These events have left many wondering whether the healthcare space remains vulnerable and what steps companies and regulators can take to limit further risk. To discuss this topic, we're joined by Richard Staynings. Mr. Stayinings is a thought leader, author, and public speaker about cybersecurity in healthcare, with over 25 years of experience. He is currently Chief Security Strategist for cybersecurity company Cylera, and teaches postgraduate courses in cybersecurity and health informatics at the University of Denver. He's previously held various cybersecurity leadership roles at Cisco, General Dynamics, and PwC.

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