The future of otolaryngology is in your hands
As practice managers, administrators, coders and more, you are constantly challenged to promote the best in otolaryngology medicine across your region and across the country while simultaneously running a successful business. The Association of Otolaryngology Administrators is your partner to help make that happen.
The AOA is the only association dedicated to otolaryngology practice management. Our specialty-specific education, resources and networking opportunities will help take your practice to the next level and remain competitive in an uncertain time of healthcare.
06/13/2018 CYBER INSURANCE: DOES THE COST OUTWEIGH THE BENEFIT?
The black web is making a lot of money through data breaches in the healthcare industry. It is reported that health records are going for as much as $60 a record. The latest prediction from cyber experts is that “global healthcare cybersecurity spending will exceed $65 billion cumulatively over the next five years, from 2017 to 2021” (Source: Cybersecurity Ventures). We have already seen a number of both private physician practices and hospitals make headline news for data breaches or being held ransom by one of the “dark cyber lords.” While cyber insurance will not prevent an attack, it can help minimize your out-of-pocket financial damages. The financial risk these days doesn’t just include the potential HIPPA fines, but patient notification, credit monitoring services for your patients for years, potential loss or destruction of data, additional cyber security implementation, and possible damage to your practice’s reputation. Although it’s painful to write the insurance check each year, it beats the alternative.
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