Published by
@ShahidNShah
@ShahidNShah
Change Healthcare Cyberattack exposes Cybersecurity Concerns
At the time of publication, UHG most recently reported that payment processing by Change Healthcare had been restored to approximately 86% of pre-incident levels. Prior to that, the company had advanced more than $6.5 billion to providers to compensate for some of the financial losses from downed systems.But the recovery process for UHG and the thousands of impacted providers is far from over. One in five health centers surveyed by the National Association of Community Health Centers (NACHC) have had over half of their revenue impacted by the incident.An American Medical Association (AMA) survey conducted in late March revealed that more than half of physicians have had to dip into personal savings to manage the financial strain caused by Change systems being unavailable.
Medigy Insights
The Change Healthcare cyberattack has sparked conversations about third-party risk management, the importance of MFA, and the effects of consolidation in healthcare.UHG completed its merger of Optum and Change Healthcare in 2022, creating a company that processes 15 billion healthcare transactions per year. Merger and acquisition (M&A) activity in healthcare requires cybersecurity due diligence, but it also makes the resulting company a bigger target for damaging cyberattacks.“At these hearings, lawmakers made clear that cybersecurity is a shared responsibility for all parts of the health care sector. We completely agree. To protect the health care infrastructure we all depend on, it’s absolutely critical that third-party entities like Change Healthcare share in that responsibility,” stated Rick Pollack, president and CEO of the American Hospital Association (AHA).
Continue reading at healthitsecurity.com
Make faster decisions with community advice
- Breaking down the FTC Noncompete ban, its Impact on Healthcare
- Exploring Generative Artificial Intelligence in Healthcare
- Healthcare DDoS Attacks: What You Need to Know to Best Protect Your Organization
- How Generative AI Will Change Jobs In Healthcare
- How TEFCA could Drive Payer-Provider Interoperability
Next Article
-
Breaking down the FTC Noncompete ban, its Impact on Healthcare
On April 23, the Federal Trade Commission (FTC) announced a final rule that prohibits employers from entering into noncompete agreements with workers, including employees, independent contractors and …
