Becker's Healthcare April 25, 2024
Healthcare cybersecurity budgets and teams have grown significantly since 2019 as threats become more pronounced, according to an April 2024 report from Moody’s Investors Service.
Moody’s gathered 148 responses from healthcare organizations, with 77% being nonprofit or for profit hospitals. On average, respondents reported cybersecurity teams jumped headcount by 30% from 2019 to 2022 and cybersecurity spending hit 7% of the total IT budget last year, up from 5% in 2019.
Eighty-one percent of healthcare companies said cybersecurity was a line item in their budgets, which is higher than the 74% average across all industries.
While bringing cybersecurity expertise in house may reduce risk because it limits the number of third parties accessing data, the report noted hospitals are also...
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