June 20, 2023 – FRANKLIN, Tenn. – MEDTEAM SolutionsTM, a provider of cybersecurity solutions for community hospitals, has announced the launch of its Security Operations Center, which offers a holistic approach to cybersecurity aimed at addressing the escalating and ever-evolving threats faced by the healthcare industry. The company's best practice approach includes designing for security, testing the design, training users, and monitoring in real time.
Investing in cybersecurity is a critical step that community hospitals must take. According to IBM, the healthcare industry incurs the highest costs from data breaches, paying an average of $10.10 million per breach. Compromised credentials were the most common initial threat agent, accounting for 19% of all breaches, while the average number of days to identify and contain a breach was 277.
The impact of ransomware attacks on hospitals can be catastrophic, according to the AAMC. More than one in three healthcare organizations globally reported being hit by ransomware in 2020, with the sector experiencing a 45% uptick since November 2020. Healthcare is among the top three critical infrastructure sectors where the Biden administration identified critical gaps in information security.
"MEDTEAM understands that community hospitals have budget constraints that affect their ability to prioritize cybersecurity," said Matthew Higgins, president of MEDTEAM Solutions. "MEDTEAM SOC is pleased to share our extensive expertise with MEDHOST customers, especially in light of the very favorable results MEDHOST has achieved in connection with its own cyber security insurance activities. By providing cost-effective solutions that do not compromise on best practices, our SOC team can help MEDHOST customers strengthen their security posture and mitigate cyber threats effectively. We can provide services designed to secure on-premises and cloud assets, offer customized service packages, address unique governance structures, and keep pace with rapidly changing threats and industry advancements."
MEDTEAM believes that information security is an investment in risk reduction, improved quality, increased uptime, and decreased provider costs. MEDTEAM SOC offers core tenants of experience, trust, and a commitment to help community hospitals meet cybersecurity challenges now and in the future.
For more information on MEDTEAM Security Operations Center, visit their website.
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