Healthcare and pharma cyber security rated worst in S&P 500

From:  Medical Economics

Analysts worry that a wide-scale security breach could occur in 2014

Healthcare and pharmaceutical companies have the worst cyber security among Standard & Poor’s (S&P) 500, and could suffer from wide-scale security breaches in 2014 similar to those experienced by retail companies such as Target and Neiman Marcus, according to a recent report.

BitSight Technologies, a securities ratings company, examined the cyber health of companies on the S&P 500, and found that 82% had been victims of some sort of security breach. Healthcare and pharmaceutical companies ranked the lowest among the four industry categories studied, because of its high volume of incidents and slow response times.

The finance industry ranked best in cyber security, followed closely by the utilities industry. The retail industry, which was rated with a poor performance, came in third. The finance industry has made cyber security a priority and a part of business operations, which led to it outperforming other sectors, according to the study.

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