Compare that to records snatched from the healthcare industry, which fetch higher than any other sector at $408 per record.
However, penalties for violating HIPAA reach into the hundreds of thousands and even the millions, dwarfing these numbers.
Ensure your organization is compliant by completing your annual HIPAA assessment.
Complete A Risk Assessment
HIPAA requires covered entities—healthcare providers and insurers, as well as business associates—to conduct a risk assessment.
“A risk assessment helps your organization ensure it is compliant with HIPAA’s administrative, physical, and technical safeguards,” says HealthIT.gov. “A risk assessment also helps reveal areas where your organization’s protected health information (PHI) could be at risk.”
Many covered entities initiate an annual assessment but rarely finish because of its intensive nature.