In the first half of 2024, ransomware demands have significantly increased, with average extortion demands surpassing $5.2 million per incident. An analysis of 56 ransom demands revealed that the largest was $100 million from an attack on India's Regional Cancer Center in April. The second and third highest demands targeted Synnovis and London Drugs, with $50 million and $25 million, respectively. Although the number of ransomware attacks decreased to 421 from 704 compared to the same period in 2023, the figures are expected to rise due to new SEC-mandated breach disclosures. The impact on data has been substantial, with private businesses reporting 29.7 million affected records, governments 52,390, and healthcare 5.4 million.

Ransomware Extortion Demands Soar to $5.2M per Attack darkreading

The United States Department of Health and Human Services fined Pennsylvania-based Heritage Valley Health System US$950,000 for HIPAA violations following a 2017 ransomware attack. The investigation revealed that the health system failed to conduct adequate risk analysis, lacked a contingency plan, and did not have proper user access policies. Alongside the fine, Heritage Valley is mandated to develop comprehensive security policies, implement a risk management plan, and undergo continuous monitoring by the Department of Health and Human Services' Office for Civil Rights for three years. This case highlights increasing ransomware threats in healthcare, stressing the need for robust data protection measures.

US healthcare organisation fined nearly US$1bn over 2017 ransomware incident Cyber Daily

Health systems are heavily investing in EHRs and associated technologies like AI and ambient listening to enhance healthcare delivery over the next decade. Experts predict that future EHRs will enable more personalized, faster, and streamlined treatments by leveraging vast amounts of standardized data. Key developments will include enhanced data visualization, asynchronous care, and better care coordination, facilitated by companies such as Epic, Oracle, and Meditech. EHR interoperability will improve communication and reduce clinician burnout. Predictive analytics and integrated AI will shift focus from reactive to proactive treatment, improving chronic disease outcomes and patient satisfaction. However, achieving these advancements will require policy changes to ensure patient privacy and security.

EHRs in 10 years: What will be possible? Becker's Hospital Review

A Coherent Market Insights report forecasts the global digital healthcare market will reach $836.10 billion by 2031, with a compound annual growth rate of 21% from 2024. Key drivers include the widespread adoption of telehealth spurred by the Covid-19 pandemic, the ageing population requiring remote monitoring, and substantial investments in healthcare digital transformation. The report highlights that healthcare analytics solutions already account for over 30% of the market share, aiding in population health management and financial performance. Challenges noted include data security and the lack of digital infrastructure in developing regions.

Digital healthcare market predicted to hit $836bn by 2031 Digital Health