News of a major hack of the Hollywood Presbyterian Medical Center covered in The Washington Post today provides yet another highlight of the security concerns of document storage technology and provides a reason for IT departments to re-consider how they store their organizations’ data.
In the Washington Post news release, it was revealed that the Hollywood Presbyterian Medical Center recently paid a $17,000 ransom (using bitcoin, a new digital currency. The news article explained that the federal government’s initiative to have hospitals and other healthcare providers switch their medical records to electronic versions instead of their more antiquated paper counterparts might have influenced the situation faced by Hollywood Presbyterian, saying that “electronic medical records led to quite the unique hostage situation in Los Angeles this week.”
Is Your IT Department Good Enough?
The dilemma experienced recently by the Hollywood Presbyterian Medical Center is a potential that exist for most IT departments who provide on-premise storage in internal organizational networks they’ve created. A chess game is played out constantly between the top minds of any particular IT department and the genius of hackers, who often work in groups to find ways to steal, destroy, or, as in the circumstance of Hollywood Presbyterian, hold data hostage for a ransom. In fact, the term ransomware has become part of the modern vernacular to describe situations just like this.
Premise Versus Cloud-Based Data Storage
Instead of pitting the IT department against whatever competitors may be lurking on the borders of their networks, many organizations opt for storing their information in the cloud, where data security needs can be addressed by security experts with larger budgets, skills and focused staff. The debate over whether to store data such as medical records, contracts, and other private information in a secure cloud-based environment, where the most advanced security techniques available are normally used, versus in a home-grown IT network that can only be as secure as its creators can make it, has now been weighed in on by the hackers who just collected $17,000 in bitcoin ransom.
Concord’s Contract Storage System
At Concord, our contract management platform is hosted in the cloud. This configuration allows our customers to be confident that their data is not going to be stolen or held ransom by hackers who penetrate vulnerable IT networks.