How I would use this information to fund my Health Systems Cyber Program.
A massive cyberattack May 1 cost Scripps Health $112.7 million through the end of June, with lost revenue bearing most of the cost.
The attack led to a major disruption in patient care and forced providers to use paper records. Scripps said at the time that its facilities remained open for care but hasn’t until now divulged the financial impact of the attack.
Scripps restored all its systems May 26 after hiring computer consulting and forensic firms to help investigate the attack and restore its systems.
Scripps added that nearly $6 million in insurance recovery “was accrued in other operating revenues in June 2021.”
It expects to get $14.1 million in insurance recoveries by the end of the fiscal year “once accounting requirements for recognition have been met,” the report said.
Scripps is a $3B+ system that lost over $100M from a 30 day ransomeware event. I'd use that information to estimate my health systems event exposure and start talking about avoiding that event with an investment of about 10% of that cost over the next 18 months.
Just a thought.
#healthcare #healthIT #cio #cmio #himss #chime