Medical identity theft is becoming a growing concern, with victims having to pay over $13,500 to resolve the crime. Additionally, about 50% of consumers would switch healthcare providers if they were worried about the security of their medical records. Medical identity theft has reputational impacts for both consumers and providers, with a 22% increase in cases from the previous year. Healthcare organizations are taking steps to address this issue, such as removing Social Security numbers as patient identifiers and investing in technologies for accurate reconciliation.
Cloud Detection and Response (CDR) company, Gem Security, has raised $23m in an oversubscribed Series A funding round. The round was led by GGV Capital