Doubling the Cost of EMRs

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Did you know that it cost billions a year to protect our massive EMR (electronic medical record) system?  Why?  Well, here are some things you should know:

  • An individual health care record brings up to $50 on the black market, 10 times as much as a stolen credit card number.
  • Each hacked record could cost a company around $20 in legal costs and credit protection.
  • Hacks already cost the health care industry about $6 billion a year, according to an industry-funded report.
  • An estimated $2 billion worth of health-related cyber insurance was sold last year, and the market is growing at 20 to 25 percent a year.

So, the cost that is added to our already bloated healthcare system is $8 billion.  Why hasn’t anyone sat down and run the numbers?  They need to ask the question. Was the cost of EMRs worth the price of switching over from paper charts?  Secondly, it is assumed that it gave better care but did it?

Also, see that $50 black market value above?  That is per record!  How much do you think each one costs when sold legally?  I don’t have the answer but it is being done on every system, every day.  Your data is being parsed and sold.  Does it have your name on it?  Who knows?  I certainly don’t trust anyone to keep it a secret.  This is so scary and yet we are blind to it all.

69540cookie-checkDoubling the Cost of EMRs