Average cost of healthcare data breach approximately $10M in 2024: Report

Healthcare remains the most expensive sector for data breaches, with an average cost of $9.8 million this year, down from $10.9 million in 2023. This surpasses the finance sector’s average breach cost of $6.1 million.

Overall, data breach costs rose 10% this year to $4.9 million, driven by business disruptions and customer support expenses. More than half of organizations are passing these costs to customers. While AI and automation have reduced breach costs by $2.2 million on average, expenses are still high.

Healthcare faces increasing cybersecurity challenges, with breaches often linked to hacking and ransomware. A notable attack on Change Healthcare this year, potentially impacting a third of U.S. residents, could cost $2.3 billion to address. Ransomware attacks have also disrupted patient care, leading to increased emergency visits at nearby hospitals and decreased admissions at affected facilities.

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