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Moody's: Hospitals highly vulnerable to cyberattacks

September 16, 2019 / Ron Shinkman

The primary reason for the high risk is hospitals' reliance on technology. Banks and securities firms are in a similar situation. Moody's believes cyber threats can be neutralized by hospitals that devote resources to their security. However, smaller facilities — and especially critical access hospitals — will be particularly vulnerable due to their relative lack of resources. There have been several high-profile cyberattacks on hospitals in recent years, with some, such as Hollywood Presbyterian Medical Center in Los Angeles, paying a five-figure cryptocurrency ransom in 2016 in order to gain back control of its IT system.