- Lloyd Price
New regulations to help turn tide on health care cyberattacks
Exec Summary:
Lloyd Price, HealthTech M&A Advisor and Partner at Nelson Advisors tells Healthcare Business International he believes new Cyber Security regulations will provide a clear mandate to medtech manufacturers and suppliers to focus on meeting requirements.
However, he cautions that regulation won’t turn the tide on its own: “I think other factors such as SBOMs (software bill of materials), the increasing decentralisation of health care delivery via virtual wards, remote monitoring, and patient engagement overall will also play important roles.
“SBOMs are a list of all the software components that make up a software product. They can be used to improve the security, quality, and efficiency of software development and maintenance. Every day, thousands more connected devices and medical devices are added to NHS networks in the UK, continually increasing the risk landscape for providers.
In the future it will be critical to understand the software components of all devices in order to mitigate the risks associated with a niche or widespread cyber-attack associated with one specific software component.”
Price is also concerned that the shift to home care and remote monitoring will present new cybersecurity challenges for the sector. “Virtual wards, which provide remote monitoring and care for patients outside of traditional hospital settings, present unique cybersecurity risks.
While they offer benefits in terms of patient care and resource optimisation, in the future health care providers will need to address cybersecurity risks associated with virtual wards such as network security, device security, insider threats and regulatory compliance.”
Healthcare Business International
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