Call us now:
One suspects that we are heading towards more sticks than carrots Rachel V. Rose, JD, MBA, if the recent spate of cyberattacks and their effects on U.S national healthcare systems are an indicator.
The problem for both regulators and the healthcare industry is the frequency, complexity and severity of cyber attacks against the health industry is having a significant effect on patient care; the response by the health industry to cyber risk management is not robust enough; there are not enough skilled and experienced resources to manage cybersecurity risk and the health industry does not have enough cash to manage cybersecurity.
In ones opinion there has to be ‘carrots and sticks’ to enable cybersecurity risk management, across the health industry and supply chains. It is something we have been saying for many years, for all industry sectors. We wrote the Augusta Plan several years ago (https://lnkd.in/e62Gjh-H), to create thought leadership on how the carrots and sticks need to be balanced. Introducing ‘Left of Bang’ proactive cybersecurity risk management, board governance, and the appropriate oversight, assurance and attestation of cybersecurity risks. That regulators are now considering, to address the challenges identified above, effecting the health sector.
As CNI the health industry cannot afford to ignore cyber. Nor can it necessarily afford to throw the money at cybersecurity that systemically important Finance Institutions spend to manage cyber risk (risk management is regulated by Basel Accords). So carrots and sticks will be on the agenda for the health industry. But the recent UnitedHealth cybersecurity incident is likely to add more sticks than carrots. Cyber regulation is the only one available tool left to governments to influence boards and market forces, albeit it is a blunt stick
Thoughts?
@Thaddeus Dziekanowski Brian D. McCarthy Rich Waite, M.Ed. George Sawyer
Veritas GRC
National Institute of Standards and Technology (NIST), Ryan Buckner Federal Bar Association Brian Levine Johnathan Rudy
#cybersecurity #cyberriskmanagement #cyberregulation #3lod #cyberattack #ransomware
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