What Are the Odds That Your Medical Information Has Been Stolen?

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By Trey Thoelcke Updated Published
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What Are the Odds That Your Medical Information Has Been Stolen?

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[cnxvideo id=”655415″ placement=”ros”]A recent survey from Accenture showed that 26% U.S. consumers have had their personal medical information stolen from technology systems, and half of those who experienced a breach were victims of medical identity theft. On average, those victims had to pay around $2,500 in out-of-pocket costs per incident.

The breaches were most likely to occur in hospitals (36%), followed by urgent-care clinics (22%), pharmacies (22%), physician’s offices (21%) and health insurers (21%). Half of consumers who experienced a breach discovered it themselves, through noting an error on their credit card statement or benefits explanation, while only one-third were alerted to the breach by the organization at which it occurred.

The latest count from the Identity Theft Resource Center (ITRC) reports that the medical/health care sector leads all others in the number of records compromised so far in 2017. The sector posted 31.9% (46) of all data breaches. The number of records exposed in these breaches totaled tops 630,000, or about 61.6% of the 2017 total.

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The business sector accounts for nearly 350,000 exposed records in 64 incidents. That represents 44.4% of the incidents and 33.9% of the exposed records so far in 2017.

The educational sector has experienced 25 data breaches since the beginning of the year. The sector accounts for 17.4% of all breaches for the year and more than 20,000 exposed records, about 2.1% of the year’s total.

The government/military sector has suffered nine data breaches to date in 2017, representing about 2.4% of the total number of records exposed and 6.3% of the incidents. Over 24,000 records have been compromised in the government/military sector.

The number of banking/credit/financial sector has reported no breaches so far this year. However, Iranian hackers were responsible for launching a wave of distributed denial of service (DDoS) attacks against U.S. banks in 2012. And an executive at cybersecurity firm CrowdStrike recently warned about a rise in cyber espionage and other cyberattacks from Iran:

What’s new is the level of activity we’ve seen, with dozens of targets in Saudi Arabia over the past two months. One of the things we’re tracking is if things escalate between the US and Iran, then we expect attacks will be likely in the [U.S.] financial sector.

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Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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