Fierce Healthcare September 12, 2019
Cyberattacks pose a greater fiscal and credit risk to nonprofit hospitals than any other sector of municipal finance due to the increasingly interconnected nature of hospital operations and information technology.
Hospitals with strong risk management strategies will be better positioned to respond to these operational and financial disruptions, according to a report from Moody’s Investors Service.
Small hospitals face the biggest risk, because many lack the necessary cybersecurity resources and will be less able to absorb any financial impact, according to report authors Jennifer Barr, a Moody’s analyst, and Lisa Goldstein, Moody’s associate managing director.
According to the assessment, the not-for-profit hospital sector’s overall cyberrisk is high. Other sectors that have high overall cyberrisk are banks, securities firms and market...
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