Data breaches on major healthcare conglomerates, such as Change Healthcare and HealthEquity, where the latter was breached through a third-party vendor’s credentials, demonstrate the ripple effect that reaches even small organizations like privately owned clinics and healthcare facilities. These security events are detrimental to businesses and healthcare organizations of any size, but the results can be devastating for small to medium-sized businesses (SMBs).
Despite 57% of small business owners believing they won't be targeted, cybercriminals frequently target these enterprises. In one year, the FBI's Internet Crime Complaint Center fielded more than 880,000 reports of cyberattacks, resulting in the potential for $12.5 billion in losses. Small businesses were disproportionately affected. This highlights a dangerous misconception: many small business owners mistakenly believe they are too small to be a worthwhile target, leaving them dangerously unprotected. This is equivalent to unintentionally inviting thieves into one’s home by leaving the doors unlocked, assuming only larger homes are targeted.
This false sense of security makes SMBs perfect targets for cybercrime, resulting in severe consequences that can disrupt operations, damage finances, and erode trust with employees and customers. Given the high stakes, comprehensive security measures must be in place across all business functions, including HR and benefits administration, which handle sensitive employee data.
When sensitive patient and employee data is stolen and gets into the wrong hands, the consequences are dire. That's why healthcare executives and company leaders must prioritize using strong data security measures to protect their businesses’ critical infrastructure, staff, and patients. Such a task can be overwhelming, especially for resource-constrained healthcare organizations like private practices and small clinics.
As SMBs increasingly rely on third-party services to handle sensitive information, it's crucial to ensure robust security measures are in place. HITRUST CSF certification provides a comprehensive framework for safeguarding data, giving SMBs and their stakeholders peace of mind. Balancing benefits administration efficiency with stringent data security is a critical challenge for healthcare organizations. HITRUST certification offers a proven framework to address these complexities.
