Cyber incidents in the medical device industry are no longer a matter of if - but when. While regulatory compliance may drive many product security investments, the real costs of an incident often lie in operational disruption, reputational damage, and erosion of stakeholder trust.
For executives weighing security investments, incident response readiness is one of the most strategic, cost-effective investments you can make.
The True Cost of an Unprepared Response
When a security event unfolds - whether it’s a vulnerability in an on-market device or a suspected breach - every minute counts. The longer it takes your organization to identify the impacted systems, notify stakeholders, and take corrective action, the higher the costs:
- Regulatory exposure: Delays or missteps can lead to non-compliance with FDA 524B, triggering warning letters or slowed approvals.
- Reputational damage: Providers and patients lose confidence quickly - especially if communication is delayed or inconsistent.
- Operational inefficiencies: Lack of clarity around roles and responsibilities can paralyze teams during a crisis.
- Customer churn and market share loss: Cyber incidents make headlines, and product procurement decisions are often reevaluated in their wake.
And yet, most organizations haven’t run a cross-functional simulation or tested whether their current plan actually works under pressure.
Proactive Planning: A High-Value, Fixed-Cost Investment
Medcrypt’s Incident Response Readiness Review was designed to help medical device manufacturers avoid these pitfalls. For a fixed fee, it delivers a practical and executive-aligned assessment of your organization’s response capabilities - with a clear return on investment.
Here’s what you get:
- Gap analysis of your current Incident Response playbook based on real-world risks and regulatory expectations
- Engagement across functions (R&D, QA, support, postmarket, legal, and communications)
- Realistic tabletop simulation tied to your products and threat profile
- Actionable recommendations that strengthen your processes and justify future security investments
- Alignment with FDA Premarket/Postmarket Cybersecurity Guidance and NIST SP 800-61
The result? A validated, cross-functional incident response strategy that saves time, reduces risk, and positions your team to respond swiftly and effectively.
Budgeting for Incident Response: What to Consider
When planning your cybersecurity budget, incident response should be viewed not as overhead - but as an essential component of enterprise risk management. Here’s how to frame it:
- Compare cost vs. consequence: The average cost of a single healthcare breach exceeds $10M. A fixed-fee IR review represents a fraction of that — and can prevent far greater downstream losses.
- Allocate across functions: IR readiness spans teams. Consider allocating shared budgets from product security, postmarket surveillance, and corporate risk teams.
- Use tabletop findings to support funding: Our simulations often surface gaps that can be directly tied to investment needs - such as monitoring, logging infrastructure, or personnel training.
Final Thought: Security as a Business Enabler
Regulators, investors, and customers are watching closely. Demonstrating that your organization takes incident readiness seriously sends a clear message: you’re building trustworthy, resilient, and future-ready products.
Proactive planning doesn’t just help you survive a cybersecurity incident - it helps you maintain your position as a leader in a highly regulated, risk-conscious market.
Ready to get started? Learn more about Medcrypt’s Incident Response Readiness Review.
