There is a rise in awareness with healthcare organizations of the threat to their cybersecurity.  The problem is, it causes a subsequent rise in a risk factor to MSPs: the risk of losing their business relationship.  According to a recent report conducted by Continuum and Vanson Bourne, “Underserved and Unprepared: The State of SMB Cyber Security in 2019” uncovered shocking numbers.

 

While businesses realize the value that an MSP brings to their business, they also have high expectations.  In fact, 69% would hold their MSP liable at some level in the event of a cyber-attack, with 35% holding them entirely accountable.  The threat of legal action against that MSP is even higher (74%).

 

93% of SMB’s would consider moving to a new MSP if they offered the “right” solution.  This corresponds to their plans to invest more heaving in the next 12 months in cybersecurity – 79% and their belief that there should be more of an emphasis on that cybersecurity – 75%.  In fact, 89% mark it as a top priority.

 

These businesses believe that they are ill equipped to deal with an attack on their own.  They believe that they are helpless (52%) and do not have the in-house skills to handle an attack on their own (62%).

 

Is this an opportunity for MSPs to increase awareness in their client relationship of their offering?  We think so.  Offering HIPAA compliance only addresses part of the equation, and we must now include overall cybersecurity protection.  From beginning to end.

 

Continually growing your offering to offer a complete solution responds to their fear of being unprepared, and adding cyber insurance provides peace of mind that if you can’t resolve the issue, a team of experts will be at their disposal.

 

We must reinstate the confidence in our client relationships and show them that while they may lack confidence in their ability to respond to a breach, we are here as their trusted ally and are fully prepared.