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UnitedHealth Offers $2B Aid After Change Healthcare Cyberattack

UnitedHealth Group (UNH.N) announced on Monday a wake of a cyberattack on its technology arm, Change Healthcare
March 19, 2024

In a pivotal move to support healthcare providers reeling from the aftermath of a cybersecurity breach, UnitedHealth Group announced today that it has expedited payments exceeding $2 billion. The company's proactive measures aim to alleviate financial strain caused by the recent attack on its technology arm, Change Healthcare.

As the healthcare sector grapples with the repercussions of a significant cyber assault, UnitedHealth Group steps forward with a bold initiative. By disbursing over $2 billion in advanced payments, the company demonstrates its commitment to bolstering healthcare providers impacted by the recent security breach targeting Change Healthcare. 

- UnitedHealth Group's prompt action includes the release of medical claims software starting Monday, with accessibility expanding to "thousands of customers" in the coming days.

- Change Healthcare, a critical player in the medical claims ecosystem, suffered a cyberattack on February 21, disrupting operations essential for processing approximately 50% of medical claims in the United States. This includes services for hundreds of thousands of physicians, pharmacies, hospitals, and laboratories.

- Following days of disruption, UnitedHealth Group successfully restored payments processing and pharmacy network services last week, signaling progress in mitigating the impact of the cyber incident.

- The company pledges to continue the restoration process until all customers regain full connectivity, ensuring seamless service delivery.

- In a bid to provide immediate assistance to affected parties, UnitedHealth Group has suspended bureaucratic hurdles for insurance coverage approval for outpatient services and streamlined review processes for inpatient admissions under Medicare Advantage plans.

UnitedHealth Group's swift response to the cybersecurity attack underscores its unwavering commitment to supporting healthcare providers during times of crisis. By extending financial assistance and streamlining administrative procedures, the company strives to mitigate the adverse effects of the cyber incident on the broader healthcare ecosystem. As the restoration efforts continue, UnitedHealth Group reaffirms its dedication to safeguarding the integrity and resilience of healthcare infrastructure in the face of evolving cybersecurity threats.

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