This paper discusses the need for effective risk mitigating steps to cope up with cyber security issues related to hospitals. It highlights the limitations of current security measures and proposes the formation of a security management panel with experienced IT professionals. The success of this approach depends on continuous updating in different areas of expertise. The impact of cyber threats on patients, doctors, medical students, and hospital management is discussed. The cost of maintaining a risk mitigating team is estimated at $50000 USD per month. The success or failure rate will be measured based on recent cyber threats in the healthcare industry worldwide.