The advent of the Internet of Medical Things (IoMT) has revolutionized healthcare delivery but has also introduced unprecedented cybersecurity challenges. This paper presents a comprehensive review of the literature surrounding cybersecurity implications for IoMT deployments, drawing insights from classic and current studies. In this review, we delve into the diverse landscape of cybersecurity threats facing IoMT ecosystems, types of cyber-attacks targeting IoMT devices, exploring the multifaceted impact of cybersecurity incidents on stakeholders within the healthcare ecosystem, explain the consequences for patients, healthcare providers, regulatory bodies, and healthcare organizations. The paper also evaluates existing risk assessment methodologies and mitigation strategies tailored for IoMT environments, emphasizing the importance of Risk-based Prioritizing Framework (RBPF). By synthesizing insights from the literature, this paper contributes to the advancement of cybersecurity practices in healthcare and underscores the importance of interdisciplinary collaboration in addressing IoMT security challenges effectively.