Password manager for healthcare: response to cyber threats

The healthcare industry is among the most prominent cybercrime targets. In the last two years, this sector alone lost $25 billion and has become one of the industries most affected by cyber hacking. Experts suggest that the situation in 2022 will only get worse.

The only method to protect against growing cases of cyber threats is to introduce a password manager for healthcare.

How can such a tool protect your healthcare organization?

The alarming cybersecurity landscape for the healthcare industry

Since the beginning of the global pandemic, the healthcare industry has become a lucrative target for cybercriminals. While hospital workers and clinicians worked days and nights to fight the virus and help people, hackers exploited the emerged vulnerability and attacked.

Over the past two years, cybercriminals have attacked hospitals and clinics extensively. They used phishing scams and ransomware attacks to exploit human error. They targeted weak areas in the IT systems and breached into systems.

The hackers leaked various information about the patients (such as Social Security numbers, financial information, and medical history), disrupted operations, and caused downtime.

According to a report by IBM, the average cost of a healthcare data breach reached $9.4 million in 2021 (increasing by $2 million in a year).

Mac McMillan, CEO of CynergisTek, a cybersecurity consulting firm, says that the healthcare industry is “a target that’s more susceptible to disruption because they haven’t made the investments others have made.”

Consequently, by investing in a dedicated tool like a password manager for healthcare, this sector can minimize the risk of costly data breaches.

How can a password manager for healthcare protect the industry?

A password manager for healthcare is a reliable prevention method against costly and damaging cyber attacks.

The dedicated tool ensures that employees inside the clinic manage sensitive data securely. How?

Solving password reuse issue

Healthcare employees are the most concerning group of people because 94% of surveyed people admitted reusing the same password across multiple accounts.

Such a practice highly increases the risk of cyberattacks. If one password is compromised, a hacker will try the same password to access other accounts.

A password manager for healthcare replaces the need for recycling passwords. A secure and intuitive password vault simplifies password-related processes. Healthcare employees can create strong credentials, save them in an encrypted vault, and access them via Master Password.

Therefore, employees need to remember only one password to access safely stored critical information.

Solving insecure data sharing practices

The healthcare industry is not an exception in the market. Healthcare professionals also share passwords via messaging apps or store them in Excel sheets.

A password manager for healthcare provides an alternative (and radically safer) way to send credentials among hospital staff.

When a shift manager needs to share a password to the patient portal with a new nurse, he can do it securely. The shift manager in a password management tool can assign a permission level for each item (view, edit, or share). A nurse can only access and see this password by logging in to her password manager account.

If a nurse decides to modify a password, her manager will always see the changes. The password manager tracks the modification date and the old and new versions of the item.

Secure password sharing significantly increases the security and productivity of the hospital or clinic. That leaves more time for the actual work and more financial resources for improving the quality of medical service.

Solving vulnerabilities in healthcare data management

Vulnerabilities in the IT systems are the weak link that causes numerous cyber attacks. A dedicated password manager for healthcare can increase the defense level of your clinic.

End-to-end encrypted tool stores sensitive data in a safe vault. Only the people who have permission can access those passwords, notes, etc.

Due to a Zero-knowledge protocol, nobody (neither hackers nor the tool developers) can access, see, or reveal your data.

In addition, a reliable password manager for healthcare provides a second layer of security – a Two-factor authentication. Employees first need to verify their identity via the second step before accessing their account. This additional step substantially minimizes the risk of unauthorized logins.

Modernize your healthcare company with the right partner and lower the cost of a data breach

Healthcare organizations that modernize their cybersecurity environment (adopt tools and educate employees) mitigate the risk of becoming a target of a cyber-attack.

The contrarily applies to the companies that have not modernized their IT environment. Since the pandemic, the clinics that have not introduced any digital transformation noticed a $750,000 higher data breach cost.

Do not wait for the next cyberattack to happen before taking action. Take a step today and boost your readiness to combat cyber threats.

PassCamp – a password manager for healthcare – offers a feature-packed tool to strengthen the cybersecurity in your company. You can choose an enterprise-built option or receive a custom solution.

PassCamp can integrate a tailored solution into your current healthcare business environment. In case you need to follow a specific data management policy, we can host the tool on-premise. Last, if you need a relabelled version, we can provide a rebranded white-label solution.

Contact the PassCamp sales team today. We will work with you to understand your needs and deliver a password manager for healthcare, perfectly tailored to ensure your business security.