In 2024, 92% of healthcare organizations suffered cyberattacks, according to the Ponemon Institute, up from 88% in 2023. And while large hospital systems invest millions in cybersecurity, smaller healthcare practices often lack access to sophisticated protection tools.
Recognizing this gap, Rectangle Health has partnered with Mastercard to deliver tools for healthcare organizations of all sizes to identify, quantify, and prioritize cyber security risks.
The Growing Importance of Cybersecurity in Healthcare
Drawn by the vast stores of sensitive patient data and the urgency of medical operations, cybercriminals aggressively target healthcare providers. The stakes are high: Healthcare suffers the second-highest global ransomware attack rate, trailing only federal government targets. In the first half of 2024, the average ransomware attack cost healthcare organizations $5.2 million and forced critical patient care systems to temporarily shut down.
Rectangle Health aims to address these challenges through our partnership with Mastercard. By offering Mastercard Cyber Quant access through Practice Management Bridge, healthcare providers gain access to evaluate their cyber maturity, Identify security practice and technology gaps, and construct targeted strategies to reduce cyber risk. Together, these solutions empower your healthcare organization to evaluate cyber risks, quantify potential financial impacts, and create targeted strategies to protect patient data while maintaining HIPAA compliance.
Cyber Quant includes:
- Risk Assessment: Measure cybersecurity risks specific to your organization’s size, revenue, region, and industry
- Financial impact valuation: Assess the potential financial impact of cyber risks on the business.
- ROI simulation: Helps prioritize remediation roadmap by showcasing the impact of remediation on identified risk.
- Maturity assessment: Evaluate the maturity of current cybersecurity controls and strategies in the context of one or more industry standards, including HIPAA, CIS, NIST, and ISO 27001.
Empowering Healthcare Providers with Enhanced Security Tools
With this integration, Rectangle Health customers now have access to even more powerful tools to strengthen their cybersecurity strategy. The platform allows your practice to:
- Identify security practice and technology gaps
- Prioritize risk reduction strategies
- Supplement existing HIPAA and OSHA compliance tools
“This partnership reflects our commitment to equipping healthcare providers with the tools they need to operate securely and efficiently in today’s digital landscape. By integrating Mastercard Cyber Quant into our Practice Management Bridge platform, we’re providing our users an unparalleled ability to safeguard their practices and patients from evolving cyber threats,” said Mike Peluso, Chief Product and Strategy Officer at Rectangle Health.
Securing the Future of Healthcare with Proactive Cybersecurity
Effective cybersecurity requires a proactive, integrated approach. Through our shared solution, we can offer automated threat detection, compliance monitoring, and risk assessment in one centralized dashboard. And Rectangle Health’s partnership with Mastercard makes advanced security assessment tools accessible to healthcare providers. By leveraging our solutions, your practice can gain essential tools to evaluate risks and protect patient data, no matter what threats come your way.
Ready to enhance your practice’s cybersecurity? Discover how Practice Management Bridge and Mastercard can improve patient engagement, streamline payments, and maintain cybersecurity.