This paper explores the potential and challenges of generative AI in healthcare, focusing on its applications in medical diagnostics, drug discovery, virtual health assistants, medical research, and clinical decision support. The authors identify and analyze security and privacy threats at each phase of the system's life cycle, including data collection, model development, and implementation. They highlight the importance of addressing these threats to ensure the safe and effective use of generative AI in healthcare. The study provides insights into the benefits and risks associated with generative AI, contributing to theoretical discussions on AI ethics, security vulnerabilities, and data privacy regulations. Practical recommendations are offered to stakeholders looking to adopt generative AI solutions, emphasizing the need for robust data governance, secure infrastructure, and ethical guidelines. The findings can inform the development of future generative AI systems and help healthcare organizations better understand the potential benefits and risks of these technologies.This paper explores the potential and challenges of generative AI in healthcare, focusing on its applications in medical diagnostics, drug discovery, virtual health assistants, medical research, and clinical decision support. The authors identify and analyze security and privacy threats at each phase of the system's life cycle, including data collection, model development, and implementation. They highlight the importance of addressing these threats to ensure the safe and effective use of generative AI in healthcare. The study provides insights into the benefits and risks associated with generative AI, contributing to theoretical discussions on AI ethics, security vulnerabilities, and data privacy regulations. Practical recommendations are offered to stakeholders looking to adopt generative AI solutions, emphasizing the need for robust data governance, secure infrastructure, and ethical guidelines. The findings can inform the development of future generative AI systems and help healthcare organizations better understand the potential benefits and risks of these technologies.