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Swiss Re — Baptist Health South Florida — Investor Presentation (February 2017)
28 slides from Swiss Re's investor presentation, Feb 9, 2017
Slide 1: Managing Cybersecurity In A Threatening Environment
Managing Cybersecurity In A Threatening Environment Ralph Lawson, FHFMA, CPA Executive Vice President and Chief Financial Officer Baptist Health South Florida February 9, 2017 Copyright © 2017, not to be distributed or modified without prior permission
Slide 2: Baptist Health South Florida
Baptist Health South Florida Doctors Hospital Baptist Children’s Hospital Baptist Hospital of Miami Homestead Hospital West Kendall Mariners Hospital South Miami Hospital West Kendall Baptist Hospital Baptist Outpatient Services BaptistBaptist Health Medical Group Baptist Outpatient Hospital Service
Slide 3: Baptist Health South Florida Growth Continues
Baptist Health South Florida Growth Continues Hospitals : Surgery Centers: Baptist Hospital / Baptist Children’s Hospital Baptist Endoscopy Center - Coral Springs Doctors Hospital Baptist Eye Surgery Center – Sunrise Homestead Hospital Galloway Endoscopy Center Mariners Hospital Medical Arts Surgery
Slide 4: A Glance At Our Digital Environment
A Glance At Our Digital Environment Source: Copyright © Baptist Health South Florida
Slide 5: South Florida Is Famous For …
South Florida Is Famous For … • Beautiful beaches • Aggressive drivers • Incredible diversity • Unbelievable population density • Hurricanes • A litigious environment • Fraud Source: Copyright © Baptist Health South Florida
Slide 6: A Wake Up Call
A Wake Up Call Near Homestead in South Dade County -- where the eye of storm landed -- it was as bad or worse than the most dire predictions. The destruction in Homestead, Cutler Ridge, Kendall and Coral Gables, though, amazed even veteran hurricane watchers. Source: Copyright © 1992 and 2017, Sun S
Slide 7: Baptist Health Data Center Acquired In 2005
Baptist Health Data Center Acquired In 2005 Source: Copyright © Baptist Health South Florida
Slide 8: A Data Center To Last
A Data Center To Last Source: Copyright © Baptist Health South Florida
Slide 9: 24/7 Monitoring Started In 2013
24/7 Monitoring Started In 2013 Source: Copyright © Baptist Health South Florida
Slide 10: Barriers To Advancing Cybersecurity Postures
Barriers To Advancing Cybersecurity Postures • Budget constraints • Poor compatibility of systems • Lack of trained talent Source: Cisco 2017 Annual Cybersecurity Report, January 31, 2017
Slide 11: The Real Cost Of A Cyber Breach
The Real Cost Of A Cyber Breach • Results from a survey of nearly 3,000 chief security officers – 50% of organizations faced public scrutiny after a cyber attack – 22% of breached organizations lost customers ‥40% of them lost more than 20% of their customer base − 29% lost revenue ‥38% lost more th
Slide 12: Our Enterprise Approach To Managing Risk
Our Enterprise Approach To Managing Risk • Own the risk • Do not expect insurance or the government to save you • Prevent • Detect • Remediate • Every employee is a risk manager! Source: Copyright © Baptist Health South Florida
Slide 13: The Current Transaction Based Unmanaged U.S. Healthcare System
The Current Transaction Based Unmanaged U.S. Healthcare System Payer Rehab Hospitals Hospitals Hospitals Nursing Homes Physicians Physicians Home Health Agencies Physicians Pharmacy Vendors Patients Source: Copyright © Baptist Health South Florida
Slide 14: The Transformation We Must Achieve
The Transformation We Must Achieve… And The Implications To Data Security! And Volume! Payer Global Capitation Payment Contract With Baptist Health ACO Risk Coordination Management and Selection Bearing of Care Dissemination of of Entity Patient Information Providers Hospitals Rehab Hospitals Hospit
Slide 15: Source: whitehouse.gov 2016
Source: whitehouse.gov2016
Slide 16: U.S. Department Of Health And Human Services Office For Civil Rights
U.S. Department Of Health And Human Services Office For Civil Rights • As required by the HITECH Act, the Secretary must post a list of breaches of unprotected health information affecting 500 or more individuals (the wall of shame) • OCR has become more aggressive as this is a new source of revenue
Slide 17: Our Organization Is On Cyber Watch
Our Organization Is On Cyber Watch Source: Copyright © Baptist Health South Florida
Slide 18: Our Digital Environment Is Great For Patients, But…
Our Digital Environment Is Great For Patients, But… • Hollywood Presbyterian Medical Center was forced to pay $17,000 after a ransomware attack took the hospital offline for 10 days • MedStar was struck by ransomware; required to move to downtime procedures with paper orders; patients were turned aw
Slide 19: Source: Copyright © Baptist Health South Florida
Source: Copyright © Baptist Health South Florida
Slide 20: Our Enterprise Approach to Managing Cyber Risk
Our Enterprise Approach to Managing Cyber Risk • We remain on Cyber Watch and actively encourage our workforce to remain vigilant. It’s not “IF” but “WHEN” a Cyber breach will occur • Our Cyber Security Council, comprised of key executives and subject matter experts, meets to assess threats and risk
Slide 21: Approach To Managing Cyber Security
Approach To Managing Cyber Security • Privacy-Security Review Board Governance • • Cyber Security Council President’s Office • Board of Trustees • Internal Forensics Incident • Mandiant on Retainer Management & • Notification/Reporting • Incident Response Plan Response • Provide Credit Monitoring •
Slide 22: Big Picture – Our Challenges
Big Picture – Our Challenges • Collaboration across the care continuum − Securing data while expanding access to itrk together as partners to remain financially viable – Philanthropy will become essential for providers to continue to innovate and provide quality care • Medicaid expansion will eventu
Slide 23: Big Picture – Our Challenges
Big Picture – Our Challenges • Collaboration across the care continuum − Securing data while expanding access to it • Tracking Our Data – Where is it? Where is it going? Who can access it? be very active – Payers and provider will work together as partners to remain financially viable – Philanthropy
Slide 24: Big Picture – Our Challenges
Big Picture – Our Challenges • Collaboration across the care continuum − Securing data while expanding access to it • Tracking Our Data – Where is it? Where is it going? Who can access it? • Training and education – Proactive vigilance Source: Copyright © Baptist Health South Florida
Slide 25: Big Picture – Our Challenges
Big Picture – Our Challenges • Collaboration across the care continuum − Securing data while expanding access to it • Tracking Our Data – Where is it? Where is it going? Who can access it? • Training and education – Proactive vigilance • Balancing security and usability Source: Copyright © Baptist H
Slide 26: Constant Monitoring Of Patient Privacy
Constant Monitoring Of Patient Privacy Investigational Activity Sanction/Remediation Activity Security Audit Manager (SAM) Findings 89 Employee Re-Education 365 Proactive Audit Findings 10 Departmental Education 97 Privacy Complaints 125 Memo to Departmental File Documenting Issue 49 Requests for an
Slide 27: Conclusion
Conclusion • We will continue to invest in technology to increase data usability and patient access • We will continue executive and board focus on Cyber Risk • Cyber Watch is here to stay Source: Copyright © Baptist Health South Florida
Slide 28: Basic Copyright Notice & Disclaimer
Basic Copyright Notice & Disclaimer ©2017 This presentation is copyright protected. All rights reserved. You may download or print out a hard copy for your private or internal use. You are not permitted to create any modifications or derivatives of this presentation without the prior written permiss
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