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Hackers Don’t Want Your Credit Card. They Want Your Medical Records

Roy Schoenberg —American Well Corp. CEO
Roy Schoenberg —American Well Corp. CEO
Roy Schoenberg —American Well Corp. CEO Photograph by Fortune

When considering online privacy and data security our chief concerns are often financial records, credit card numbers, and bank account details. But it might be surprising to learn how little value those actually hold to hackers: anywhere from ten cents to a couple of dollars.

Medical data on the other hand is a veritable gold mine. “Medical records can sell for up to $30 each,” Roy Schoenberg, CEO of American Well Corp., a provider of telemedicine services, told a panel at the 3rd annual Fortune Brainstorm Health conference in Laguna Niguel, CA.

Schoenberg explained how his own company is subject to between 4,000 and 5,000 attempts per second to compromise their systems.

The panel was assembled to discuss the intersection of the “fourth industrial revolution” and health care. Inevitably talk of blockchain emerged from the discussion and was posited by one participant as a way to securely store and retrieve medical data, with auditable access logs.