Data Breaches Have Consumers Worried about Security of Healthcare Information

February 15, 2017, Written By Lynn Oldshue
Data Breaches Have Consumers Worried about Security of Healthcare Information

Since the Target data breach of 2013, cybersecurity problems have become relatively commonplace in the United States. Companies fight hard to protect their customers, but criminals continue to get smarter with their tactics. This not only impacts the debit and credit cards, but also takes a toll on the healthcare industry. A new study from Xerox shows that 44% of Americans worry about having their healthcare information stolen.

According to Protenus, 27 million healthcare records were stolen in America in 2016 over the course of 450 data breaches. That’s an average of 1 1/4 data breaches per day, in addition to the breaches at stores, restaurants and online shopping sites. Surprisingly, there was actually a decline in healthcare breaches from 2015 to 2016.

Payment processors are hoping that America’s transition to chip credit cards will limit the damage of data breaches, especially with the development of tokenization—one-time tokens of payment information that prevent merchants from storing credit and debit card details. However, these efforts will not protect healthcare documents.

The Xerox study showed 76% of consumers believe the best way to decrease healthcare breaches is for health facilities to share information over a secure electronic network, rather than faxing paperwork to one another. 87% of survey participants said this practice would also reduce wait times for test results and diagnoses, helping more patients get the care they need each day.

The information contained within this article was accurate as of February 15, 2017. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
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