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Internet of Things to 'enormously expand' kinds of cyberattacks hospitals suffer, economist says

Healthcare IT News: When healthcare executives think of economics, their first thought no doubt is of money. But that’s not necessarily the right thought when it comes to the economics of cybersecurity, said Scott Borg, chief economist at the U.S. Cyber Consequences Unit.

The independent, nonprofit research institute investigates strategic and economic consequences of cyberattacks.

“An important thing to realize in economics is it’s not just about money, it is about choices – economics is about making the best decisions and creating the most value you can,” Borg explained. “In terms of cybersecurity, economics is about protecting your organization’s ability to create value. Cybersecurity executives need to understand how the systems that are protecting assets create value, and they have to know how much value they are creating.”

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