Cyberattack costs hit UnitedHealth in 1Q that still turns out better than expected
UnitedHealth Group trounced first-quarter expectations even as costs from a cyberattack to its Change Healthcare business ate into the company’s performance.
The health care giant also said Tuesday that care patterns in the year’s first quarter met its expectations after soaring medical costs at the end of last year surprised Wall Street.
Company shares jumped in midday trading.
UnitedHealth said earlier this year that a ransomware group had gained access to some of the systems of its Change Healthcare business, which provides technology used to submit and process insurance claims. The attack disrupted payment and claims processing around the country, stressing doctor’s offices and health care systems.
Federal civil rights investigators are looking into whether protected health information was exposed in the attack.
UnitedHealth is still restoring several services from the February attack. It took an $872 million hit from it in the first quarter, but CEO Andrew Witty told analysts on Tuesday that the company expected to bring Change Healthcare back “much stronger than it was before.”
Related articles
FDA brings lab tests under federal oversight in bid to improve accuracy and safety
WASHINGTON (AP) — Makers of medical tests that have long escaped government oversight will have abou2024-04-30Dickov confident the future's blue
Man City legend reflects on club's transformation and predicts more history for Guardiola's menForme2024-04-30HK's tourism continues rebound in 2023 with 34m visitors
China's Hong Kong Special Administrative Region (HKSAR) welcomed 34 million visitors in 2023, with t2024-04-30China moves to expand 5G coverage in outlying border regions, inhabited offshore isles
China will move to expand its 5G mobile network access to all outlying border regions and inhabited2024-04-30Exodus at GB News continues: Pip Tomson becomes third star to quit in just three months
A GB News star has sensationally quit the channel.Pip Tomson is leaving the broadcaster to search fo2024-04-30Over 600 enterprises sign up for 7th CIIE
SHANGHAI, April 9 (Xinhua) -- More than 600 enterprises, including over 200 Fortune 500 companies an2024-04-30
atest comment