Data breaches leave long-lasting impacts and financial consequences on healthcare organizations. In the past three years, a staggering 90 percent of all healthcare organizations reported approximately one security breach. Sixty-one percent admitted that they don't have effective mechanisms for maintaining proper cyber security.
Other than protecting the ideas for medical devices, many other undesirable threats can be avoided. Cybercriminals are concentrating more time and effort in exploiting health care data. The reason is that health care data does not expire, unlike financial data that is unusable after a while.
Legal Expenses:
There would be lawsuits in case of data breaches. These lawsuits would result in court expenses, fees for attorneys, travelling costs to court proceedings, and even the cost of expert witness compensation. These and much more are the results of medical device IP disputes.
Loss of Production and Sales:
The court cases could very well result in a court order to halt development, production, and sales of your medical device. Even if you're just a plaintiff, there are great chances that the defendant will be prepared for countersuits. This could sideline the development of your product—and even other product advancements—for months to years.
Damage to Public Relations and Relationship Building:
Reputation is very critical and crucial in the medical industry. One simple lawsuit can completely tarnish your reputation as a medical device innovator. Whether you've been in the industry for years or just started, there's no coming back from this one.
What's worse is it can damage your reputation not just with customers and the general public—but also with investors, strategic partners, distributors, and manufacturers. Such situations would hurt your relationship with them and negatively impact your business.
Potential Causes of Critical Harm to Patients:
According to the FDA's issued guidelines for data security in medical devices, the security in medical devices can pose many threats. Not just to intellectual property and health care data—but also to patients' health. Medical devices are technologically diverse, ranging from insulin pumps to health applications on a mobile phone. This makes them extremely networked and prone to breaches. These openings for hackers can easily be exploited and render patients vulnerable. It could even result in fatalities!
It's important to understand the various threats that the medical industry faces to help confront the problem. The healthcare industry is pretty much unprepared when it comes to data security.
At Lean Security, we can ensure that patients' and doctors' mobile applications and devices are fully secure from any attacks. No openings to be compromised. With whitebox cryptography, the privacy of critical medical records and data will be fully confidential.
We also offer IT solutions to healthcare device providers to lessen risks and threats.
Our skilled team offers their expertise in mobile application penetration testing service, AI web application penetration testing service, IP protecting for medical devices, security testing, management of electronic management data, and much more.
Visit our website today.