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Winter Journal

Volume 30, Issue 4

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Thursday, 10 August 2017 20:18

What’s Your Insurance Policy for Ransomware?

Written by  FRANK KRIEGER

In 1996, a gentleman named James Clark became frustrated with the patient care experience. He lamented the fact that his patient information from one doctor was often not available to another. He realized, in that bygone time, his information could be networked and shared to reduce both time and errors, as well as costs for patients, insurance companies, healthcare providers, and processors. He took his idea and began building what is now known as Web MD. As records became more and more digitized, the benefits slowly started to appear. Costs could be monitored and reduced, billing was tracked with more efficiency, and even more importantly – the time patients spent searching for and gathering records was diminished. The networking of systems combined with the consolidation of data and information allowed healthcare organizations to embrace a new digitized world. Fast-forward to 2012 when the very first incident of ransomware infecting a healthcare entity occurred.