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Recent cyber attacks exposed operational system-wide vulnerabilities and the impact on provider networks, health plans, members and patients cannot be overstated. As our interconnected world continues to face mounting cyber threats, the healthcare industry is particularly vulnerable to breaches that have wide-reaching impact across the ecosystem, from interfering with pharmacies’ ability to fill prescriptions to disrupting organizations’ billing and revenue cycles.
C-suite leaders have overall responsibility for cybersecurity and each plays an integral role. Leadership’s coordination and communication internally, with third parties and with board members is critical for cyber event readiness, resolution and resilience.
Leading preparedness practices
Organizations that prepare, respond and emerge more resilient from a cybersecurity crisis tend to follow six leading practices for leadership teams and those charged with response and governance.
Ecosystem cyber resilience
Ransomware attacks have evolved into sophisticated, high-stakes operations that target businesses — often in the healthcare sector — using double and even triple extortion tactics to wrest millions in payoffs. Cybercriminals can seize control of critical business processes and systems, and steal sensitive data like credit card numbers and personal health information (PHI) that you’re legally obligated to safeguard. There are 6 questions healthcare executives should be asking to prepare for a potential notifiable event.
Vendor security checklist
The aftermath of a widespread healthcare cyber attack requires careful evaluation and strategic planning beyond operations and technology resilience capabilities. Leaders should consider key vendor security risks and use a checklist when considering restoring or creating connections with vendors.
Board considerations
Cybersecurity attacks have elevated the relevance of operational and technology resilience to board-level consideration. Boards should be informed about management’s resiliency strategy, programs and investments.
Steps to resolution
Our webinar replay from February 28th highlights actions you can take now as outlined by specialists from PwC's Crisis Management, Cyber Response and Health Services teams. We are here to help you prepare for cybersecurity risks, respond when a cyber crisis hits and emerge more resilient.
Internal controls considerations
The interdependencies in the healthcare ecosystem create unique challenges as organizations face threats themselves or in assessing the implications on third-parties. Beyond specific cybersecurity implications, these incidents create internal control environment challenges across operations, information technology, and financial reporting. Management should apply a consistent controls assessment, ensuring their own control environment remains resilient and effective.
Register to download all the latest insights on how your C-suite can be cyber resilient.
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