Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Cyberattack costs hit UnitedHealth in 1Q that still turns out better than expected !

Cyberattack costs hit UnitedHealth in 1Q that still turns out better than expected

Time:2024-05-21 16:07:14 source:Global Groove news portal

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 information
  • Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
  • Michelle Yeoh shines in VERY quirky tin foil
  • Lok Sabha elections 2024: Why Modi and BJP face strong resistance in south India
  • Liberal icon Bernie Sanders is running for Senate reelection, squelching retirement rumors
  • Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry
  • St. Louis Blues remove interim tag and name Drew Bannister full
  • Newly arrived illegal immigrant kidnaps an 11
  • Police investigating shooting outside Drake's mansion that left security guard wounded
Recommended content
  • Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
  • Stars quickly go from tight series over reigning Cup champ to big
  • Donald Trump moves much of his White House campaign to New York
  • 3 Indian nationals charged with killing Canadian Sikh separatist leader make first court appearance
  • Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
  • Lok Sabha elections 2024: Why Modi and BJP face strong resistance in south India