[ Tuesday, February 03, 2009 ]
Another Good Reason to Avoid Data Breaches: the cost
. On average, companies pay about $200 per customer record in responding to a data breach. And that's even if nothing bad happens.
And if that's not enough: if you're in the healthcare business, you'll lose 6.5% of your patients.
All that is before HIPAA kicks in. Even if you are never cited by OCR, even if you negotiate a $100,000 settlement with them, that cost is a drop in the bucket compared to the other costs to your business. More reasons to really comply with HIPAA.
Jeff [10:57 AM]
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