UnitedHealth & the Change Healthcare Hack

On February 21st UnitedHealth’s healthcare transaction unit, ChangeHealthcare was hacked by the ransomware group, Blackcat. It threw the nation’s healthcare system into a negative spin — and a spin that continues today.

ChangeHealthcare has just started to process $14 billion in medical claims that have piled up since February 21st.

The over a month-long pause in processing has hit hospitals, medical providers and pharmacies hard. To help, UnitedHealth is advancing $3.3 billion to those providers to help them over the hump and to ease their financial pain.

Companies taking advantage of the loan will have 45 business days to pay it back.

UnitedHealth says over 40% of the $3.3 billion will go to hospitals and health centers that serve high risk patients and communities. They are funded by the federal government.

The company says it is going to take months for ChangeHealth to recover from the attack.

In the meantime, the State Department is offering a $10 million reward for information leading to the prosecution of Blackcat’s leaders, and others engaged in “malicious cyber activities.”

“The ALPHV BlackCat ransomware-as-a-service group compromised computer networks of critical infrastructure sectors in the United States and worldwide, deploying ransomware on the targeted systems, disabling security features within the victim’s network, stealing sensitive confidential information, demanding payment to restore access, and threatening to publicize the stolen data if victims do not pay a ransom,” the State Department said.

Source link: The Hill — https://bit.ly/3VE7Y5t

Source link: Insurance Journal — https://bit.ly/49gopbi

About PIA Western Alliance

The Professional Insurance Agents Western Alliance is a membership organization promoting and enhancing the success of independent agencies seeking to grow, learn and be heard within the industry.


More Industry News