The Internet of Things (IoT) has introduced an era of profound connectivity in healthcare, offering the potential for improved efficiency and cost reduction while also exposing critical challenges in data security and patient privacy. Internal and external threats, from security breaches to unauthorized access, threaten patient well-being and medical data confidentiality. Conventional password-based authentication methods have become insufficient in the face of evolving technology and escalating cybersecurity threats. This paper introduces the Master-Code security strategy, a meticulously designed framework aimed at strengthening medical device security within the IoT and safeguarding patient health. The strategy integrates proactive defence mechanisms, real-time reporting of patient condition changes, and advanced One-Time Password (OTP) technology to enhance security and ensure proper authorization. Implementation includes a specialized web-based control panel for continuous medical device monitoring, promptly alerting attending physicians and pre-registered relatives to potential issues and activating a reset mechanism in cases of patient unresponsiveness. Emphasizing multi-layered security, threat mitigation, rapid response, efficiency, and effective communication, the Master-Code strategy is critical to rising cyberattacks on healthcare institutions, prioritizing patient safety and data protection. This paper also provides comprehensive recommendations for enhancing IoT healthcare system security through systematic approaches, continuous monitoring, education, encryption, access control, and compliance with data privacy regulations.